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United Technologies to divest UTC Power unit



                 United Technologies to divest UTC Power unit

PR Newswire

HARTFORD, Conn., December 22, 2012

HARTFORD, Conn., December 22, 2012 /PRNewswire/ --

 

United Technologies Corp. (NYSE: UTX) today announced it has reached agreement
to divest its UTC Power fuel cells unit to ClearEdge Power, based in
Hillsboro, Ore. Terms of the agreement were not disclosed.

As previously announced, divesting UTC Power is another step forward in UTC's
ongoing portfolio transformation to focus on its core of aerospace and
building systems. The transaction is subject to customary closing conditions.
Closing is expected early in 2013.

United Technologies Corp., based in Hartford, Connecticut, is a diversified
company providing high technology products and services to the building and
aerospace industries.

This release includes "forward looking statements" concerning a proposed
transaction, its financial and business impact, management's beliefs and
objectives with respect thereto, and management's current expectations for our
future operating and financial performance, based on assumptions currently
believed to be valid. Forward-looking statements can be identified by the use
of words such as "believe," "expect," "expectations," "plans," "strategy,"
"prospects," "estimate," "project," "target," "anticipate," "will," "should,"
"see," "guidance," "confident" and other words of similar meaning in
connection with a discussion of future operating or financial performance. It
is uncertain whether the events anticipated will transpire, or if they do
occur what impact they will have on the results of operations and financial
condition of UTC and of the combined companies. These forward looking
statements involve significant risks and uncertainties that could cause actual
results to differ materially from those anticipated, including but not limited
to the ability of the parties to satisfy the conditions precedent and
consummate the proposed transaction, the timing or consummation of the
proposed transaction, the ability of the parties to secure regulatory
approvals in a timely manner or on the terms desired or anticipated, and the
ability to realize opportunities for growth and innovation. Other important
economic, political, regulatory, legal, technological, competitive and other
uncertainties are identified in the SEC filings submitted by UTC from time to
time, including their respective Quarterly Reports on Form 10-Q, Annual
Reports on Form 10-K, and Current Reports on Form 8-K. The forward looking
statements included in this press release are made only as of the date hereof.
UTC does not undertake any obligation to update the forward looking statements
to reflect subsequent events or circumstances.

UTC-IR

Contact:
John Moran, UTC
(860) 728-7062
www.utc.com

SOURCE United Technologies Corp.
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