United Technologies

United Technologies Corporation (UTC) is a global technology company with a history of pioneering innovation in aerospace, aviation, helicopter design, climate control, elevator design, and hydrogen fuel cells. Founded by engineers who created new industries, UTC continues to create products that consume fewer resources and produce less emissions during manufacture and in operation. The United Technologies Research Center scientists specialize in fields as diverse as fluid dynamics, advanced materials, controls, modeling, and simulation. In 2007, UTC invested $3.6 billion in company- and customer-funded research and development.

UTC maintains a balanced portfolio of businesses spanning a range of geographies and markets. In doing so, it is able to take advantage of both long and short business cycles, thereby reducing the impact of downturns in individual markets or economies. In 2007, UTC revenues exceeded $54 billion, which doubles revenues received since 2000. Earnings per share grew 15 percent in 2007 to $4.27 per share. Total shareholder revenue for 2007 was 24 percent, ranking UTC first among the Dow Jones Industrials and within the top quartile of the Standard & Poor's (S&P) 500. Regularly rewarded for performance with external recognition, UTC ranks among the 100 Most Sustainable Companies in the World at the Davos World Economic Forum and on the Dow Jones Sus-tainability Indexes. Fortune magazine ranked UTC first among aerospace and defense companies in its annual 2007 Most Admired survey.

Despite having headquarters in Hartford, Connecticut, 62 percent of UTC's revenues and 65 percent of UTC's employees remain outside the United States. UTC employs 225,600 employees worldwide.

UTC businesses include the following:

Carrier: Employees 42,800, Revenues $14.6 billion, Operating Profits $1.4 billion, http://www.carrier.com. Carrier is a heating, ventilation, air conditioning, and refrigeration (HVACR) company that provides systems, components, controls, and services for residential, commercial, industrial, and transportation companies. In 2007, Carrier won 69 percent of 2008 Beijing Olympics-related air conditioning contracts. Other customers include Princeton University, Mayo Clinic, and Asda/Wal-Mart.

Hamilton Sundstrand: Employees 18,300, Revenues $5.6 billion, Operating Profits $967 million, http://www.hamiltonsundstrand.com. Hamilton Sundstrand is an electrical power company that provides power generation and distribution systems, engine accessories, flight control systems, and pilot controls, light-emitting diode (LED) lighting, and fire protection products for aircraft and military ground vehicles. Hamilton Sundstrand is prime contractor for the National Aeronautics and Space Administration's (NASA's) space suit/life support system, electric power system, and various other systems for international space programs. Other customers include Airbus and Singapore Airlines.

Otis: Employees 62,900, Revenues $11.9 billion, Operating Profits $2.3 billion, http://www.otis.com. Otis is an elevator company that designs, manufactures, installs, services, and upgrades elevators, escalators, and moving walkways for buildings. Contract projects include the Beijing Olympics, Tres Molinos (Spain), New Songdo City (Seoul, Korea), and Bahrain City Centre. Otis currently maintains a service portfolio to 1.6 million elevators and escalators worldwide.

Pratt & Whitney: Employees 38,500, Revenues $12.1 billion, Operating Profits $2 billion, http://www.pw.utc.com. Pratt & Whitney provides turbofan engines for large commercial and military aircraft, and turboprop engines for regional, business, light jet, utility, and military aircraft. It also provides turboshaft engines for military and commercial helicopters, maintenance, repair, and overhaul services, and fleet management services. Customers include NASA's space shuttle and Vision for Space Exploration, and Lockheed Martin. Pratt & Whitney was also chosen by The Spaceship Company to power the White Knight Two launch aircraft for the world's first commercial passenger suborbital spaceship.

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