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United Technologies studying sale of pumps division

February 09, 2012
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HARTFORD, Conn. — United Technologies Corp. is weighing the sale of its pump and compressor unit to raise capital for the purchase of aerospace supplier Goodrich Corp., Bloomberg reported.

The industrial products unit, which makes Milton Roy pumps and Sullair compressors, may be valued at $2 billion or more, according to anonymous sources.

Executives have been weighing asset sales to limit the amount of stock needed for the $16.5 billion cash purchase that will add Goodrich to the maker of Otis Elevators and Sikorsky helicopters, the article stated.

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