United States. United Technologies Corporation (UTC) made official on April 3 its separation from Carrier (which now covers the security and climate control business) and Otis. At the same time, UTC officially completed its merger with defense giant Raytheon.
Headquartered in Waltham, Massachusetts, Raytheon Technologies is one of the world's largest aerospace and defense companies with approximately $74 billion in 2019 pro forma net sales and a global team of 195,000 employees, including 60,000 engineers and scientists.
As a provider of heating, ventilation and air conditioning (HVAC), refrigeration and fire safety technologies, Carrier's products and services are essential to modern life, particularly in today's global environment. The company has a broad global presence with approximately 53,000 employees, offering solutions in more than 160 countries. Carrier holds leadership positions in critical segments, including North American residential HVAC, commercial HVAC equipment in major markets, global fire detection and suppression, global access controls for security systems, and refrigerated equipment for the North American and European truck trailer and container businesses.
As an independent company, Carrier will have greater focus and agility based on its own distinct operational priorities and strategies for long-term growth and profitability, including strengthening and growing its core businesses, expanding its product range and geographic coverage, and expanding service and digital offerings. The company is well positioned, with large megatrends driving the sustained growth of the industry, leading positions with a significant installed base, a disciplined operating system, and an unwavering commitment to innovation.
"Against the backdrop of unprecedented global uncertainty, Carrier and its employees remain focused and continue to solve critical challenges, from improving indoor air quality, protecting the world's food and pharmaceutical supply, and keeping people safe and secure. I am honored to lead this fantastic company and now, more than ever, I am incredibly proud of the perseverance and resilience of our talented workforce," said Carrier President and CEO Dave Gitlin.
