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UTC targets consolidation in high-cost states

2015-12-11 04:50:35| Paper - Topix.net

Just over a month after selling off its former subsidiary Sikorsky Aircraft, United Technologies announced a plan to realize $900 million in annual savings through "structural cost reductions" at remaining UTC manufacturing facilities in high-cost states. Farmington-based UTC sold Stratford-based Sikorsky last month to Lockheed Martin for $9 billion, with UTC expecting to record a $3.3 billion gain on the sale in the fourth quarter of 2015.

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