United Technologies Completes Sale of Goodrich Unit

By Industrials FOXBusiness

An S-70B Seahawk is shown. The helicopter is manufactured by Sikorsky Aircraft, a subsidiary of United Technologies. (Sikorsky Aircraft)

United Technologies (UTX) completed the sale of a Goodrich Corp. electric power systems business to French aerospace manufacturer Safran for roughly $400 million.

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The sale was one of two divestitures required by U.S. regulators after United Technologies made a $18.4 billion deal to acquire airplane parts manufacturer Goodrich.

United Technologies also sold a Goodrich pumps and engine controls unit earlier this month.

Last year, the Department of Justice said the Goodrich acquisition would have made Hartford, Conn.-based United Technologies the only significant supplier of large main engine generators for aircraft.

Shares of United Technologies were down 60 cents at $92.05 early Wednesday morning.