Company Name: United Technologies Corporation (UTC)

Founder: Company formed by merger

Industry: Conglomerates

History:

United Technologies Corporation develops, researches, and manufactures high-technology products for various fields.

The origins of UTC can be traced back in 1929 when United Aircraft and Transport Corporation was formed due to the merger of Change Vought, Pratt & Whitney, Boeing, Sikorsky Aircraft, and Hamilton Standard. The newly formed company comprised the core companies of United Technologies.

In 1934, United Aircraft and Transport was split into three independent entities, namely United Aircraft, United Airlines, and Boeing. This was due to the Air Mail Act, a government decree that broke down the holding companies that fused together aircraft manufacturers and airlines.

Although Vought was spun off in 1954, United Aircraft managed to preserve its original corporate structure and specialization in the defense and aerospace fields up to the 1970s.

In 1975, United Aircraft altered its name to United Technologies.

In 1999, United Technologies acquired Sundstrand Corporation and fused it with its Hamilton Standard unit. This subsequently formed Hamilton Sundstrand. In 2001, UTC penetrated the security and fire business with its acquisition of Chubb Security. This foray into new industries was further augmented by the company’s acquisition of Kidde in 2005. The two new subsidiaries — along with other brands — were then merged to form UTC Fire & Security. In the same year, United Technologies got Boeing’s Rocketdyne division. This was merged with the company’s Pratt & Whitney unit.

In 2007, UTC started Hawk Works, a Rapid Prototyping and Military Derivatives Completion Center (RPMDCC). It is situated west of the Elmira-Corning Regional Airport in Big Flats, New York.

United Technologies Corporation is also an immense military contractor that produces military helicopters and missile systems. In 2005, it received numerous military contracts worth more than $5 billion.

Currently, the company has 222,000 employees and made $54.759 billion in revenue in 2007.

Leadership:

· George David – Chairman

· Louis R. Chênevert - President, CEO, and Director

· John J. Doucette – VP and CIO

Jamie Gorelick elected to the board of UTC.