ROCKFORD, Ill. (WIFR) -- United Technologies Corp. (UTC), which operates a aerospace manufacturing facility in Rockford, will merge with U.S. defense contractor Raytheon.
Shareowners approved a merger of both organizations on Friday, voting overwhelmingly to approve all of the proposals necessary to complete the merger.
According to a news release, UTC’s aerospace businesses, which includes Collins Aerospace and Pratt & Whitney, will combine with Raytheon to form the new Raytheon Technologies Corporation.
"I am pleased that the shareowners of Raytheon and UTC voted in favor of our powerful strategic combination," said Tom Kennedy, Raytheon Chairman and CEO. "Today's vote reflects a significant step on our path to unite two world-class companies with complementary technologies and supports our view that this merger of equals will create additional growth opportunities while delivering benefits to our shareowners, customers and employees."
The transaction is expected to close in the first half of 2020.
UTC Aerospace Systems is located in the former Hamilton Sundstrand location at 4747 Harrison Avenue.