United Technologies sells Goodrich power system

AP News
Posted: Mar 26, 2013 6:28 PM

HARTFORD, Conn. (AP) — United Technologies Corp. is selling a former Goodrich Corp. electric power systems business for about $400 million.

The Hartford, Conn., aerospace conglomerate said Tuesday that it sold the business to Safran SA, a French aerospace manufacturer for about $400 million.

The sale is the second of two divestitures required by regulators as a condition of United Technologies' $18.4 billion purchase of Goodrich, a manufacturer of airplane parts. United Technologies announced on March 18 the sale of a pump and engine control systems business owned previously by Goodrich.

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The Justice Department last year said the Goodrich deal would have combined the only two significant suppliers of large main engine generators for aircraft.

United Technologies shares fell 15 cents to close at $92.65.