Hartford-based United Technologies Corp. said today it successfully closed its subscription and partial tender offer to acquire an aggregate 49.5 percent stake in Clipper Windpower Plc, a California wind turbine maker.
Announced on Dec. 10, the deal would enable Clipper to enhance its operations and pursue its strategic goals, while the parent of Pratt & Whitney, Sikorsky and Otis Elevator, among businesses, will expand its power generation portfolio and enter the wind power segment.
Clipper has a manufacturing plant in Iowa as well as operations in the United Kingdom. It trades on the London Stock Exchange.
UTC’s leading industrial competitor, General Electric Co., already has a major head start in producing wind turbines.
