Hartford’s United Technologies Corp. said it’s combining its subsidiary Otis Elevator Co. with its climate, controls and security division to capture growth opportunities in emerging global markets.
The resulting unit — UTC Building & Industrial Systems — will be the world’s largest high-technology building systems provider, UTC said. It will have more than 120,000 employees, $29 billion in annual sales and a direct presence in more than 60 countries.
UTC said the new division will be led by President and CEO Geraud Darnis, who formerly held the same titles in the climate, controls and security division.
