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The company was formed in 2020 by a merger of equals between the aerospace subsidiaries of United Technologies Corporation (UTC) and the Raytheon Company. Before the merger, UTC spun off its non-aerospace subsidiaries Otis Elevator Company and Carrier Corporation. UTC is the nominal survivor of the merger but it changed its name to Raytheon ...
In June 2019, United Technologies announced the intention to merge with defense contractor Raytheon to form Raytheon Technologies Corporation. The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing. [ 21 ]
United Technologies Corp agreed on Sunday to combine its aerospace business with U.S. contractor Raytheon Co and create a new company worth about $121 billion, in what would be the sector's ...
The Raytheon Company was a major U.S. defense contractor and industrial corporation with manufacturing concentrations in weapons and military and commercial electronics. Founded in 1922, it merged in 2020 with United Technologies Corporation to form Raytheon Technologies, [3] which changed its name to RTX Corporation in July 2023.
United Technologies provides primarily commercial plane makers with electronics, communications and other equipment, whereas Raytheon mainly supplies the U.S. government with military aircraft and ...
Aerospace executives see potential benefits from the surprise merger of Raytheon Co and United Technologies, including the prospect for better margins for suppliers and perhaps the chance to bid ...
Raytheon's (RTN) shares rise after shareholders approve for its merger with United Technologies. The merger is expected generate a conglomerate worth $121 million.
In March 2014, at age 58, Kennedy became the CEO of Raytheon, succeeding William H. Swanson. Kennedy was elected to the board of directors in January 2014. [3] [2] [4] [5] In April 2020, Raytheon Company completed their merger with United Technologies Corporation (UTC) to form Raytheon Technologies.