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United Technologies unveils $12 billion buyback

2015-10-20 15:20:58| Paper - Topix.net

United Technologies Corp. Tuesday unveiled a $12 billion share-repurchase plan, partly funded through the sale of its Sikorsky helicopters business, as the company said it continued to face sagging sales in its latest quarter. The Farmington, Conn.-based maker of Pratt & Whitney jet engines, Otis elevators and Carrier air-conditioning equipment reported a 5.6% decline in third-quarter sales amid currency headwinds and engine-delivery delays.

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