United Technologies Corp. says it has completed its $1.82 billion purchase of General Electric Co.’s fire detection and electronic security business.
CEO Louis Chenevert said Monday the acquisition strengthens United Technologies’ fire and security business.
United Technologies, parent of jet engine maker Pratt & Whitney, Otis elevator and Sikorsky Aircraft, announced the deal in November.
GE is shedding assets to focus on core strategic businesses.
United Technologies has since bought nearly half of a California wind turbine manufacturer for $270 million and has said it’s interested in other investments in alternative energy.
GE shares slipped 7 cents to $15.99 in midday trading while United Technologies shares rose 91 cents to $69.56. (AP)
