[LMPA]

Originally Posted by Mr_250

Anyone hear about UTC and Raytheon merging? Sounds cool, except for the fact that CNBC reported the HQ would be in Boston, not Farmington.

Hopefully they announce more this week...

https://www.wfsb.com/news/connecticu...ac85af744.html

[beerbeer]

Another victory for Democrats as they drive another Fortune 500 company out of state.

Asked for a comment about the potential loss of another prominent Connecticut company headquarters, a spokesperson for Gov. Ned Lamont declined to comment Sunday.

The Connecticut voters are getting what they voted for.

[BobNJ1960]

Originally Posted by beerbeer

Another victory for Democrats as they drive another Fortune 500 company out of state.

Asked for a comment about the potential loss of another prominent Connecticut company headquarters, a spokesperson for Gov. Ned Lamont declined to comment Sunday.

The Connecticut voters are getting what they voted for.

This would be awful for Ct, no doubt.

[LMPA]

Originally Posted by BobNJ1960

This would be awful for Ct, no doubt.

https://www.middletownpress.com/busi..._gcidBh09V3LGc

Another article today, a portion below:

The good news for Connecticut is that Raytheon, maker of Tomahawk missiles, guidance systems, radar and other aviation electronics, has little overlap with United Technologies. That means the roughly 12,500 Connecticut Pratt employees (UTC refuses to give a breakdown by business unit) and, for the most part, the several thousand employees of Collins Aerospace in Windsor Locks and elsewhere (formerly Hamilton Sundstrand and Goodrich), would be unlikely to lose their jobs directly as a result of the merger.

But the headquarters location, which accounts for several hundred people in Farmington and a lot of prestige, philanthropy and related commerce, is a different story. UTC has been the dominant buyer in all of its previous mergers, including the $23 billion purchase of Rockwell Collins last year, to form Collins Aerospace, maker of numerous aviation components and flight control systems from nose to tail.
This time around the company could consolidate its head office at the Raytheon base or elsewhere outside of Connecticut even though Hayes would be, for the time being, in charge.

[Mr_250]

Originally Posted by LMPA

Hopefully they announce more this week...

https://www.wfsb.com/news/connecticu...ac85af744.html

HQ....out!!

[LMPA]

https://patch.com/connecticut/bethel...thel-set-close

Small Manufacturing Plant in Bethel Set to Close

BETHEL, CT — The town will be losing a manufacturing plant in August.
Burndy LLC has notified the Connecticut Labor Board that it's operation in the Clarke Business Park will commence laying off workers in August, with the last pink slip handed out when the plant shuts down for good at the end of the year.
Fifty-four employees will be affected, as parent company Hubbell, based in Shelton, consolidates the work into another of their facilities in Alabama. Workers were warned of the possibility of the shutdown in February, according to a letter Burndy's human resources manager filed with the Labor Board's Rapid Response Unit on June 5.


Burndy manufactures connectors and other hardware for electric and networking equipment. It was acquired by electrical and electronic component manufacturer Hubbell nearly ten years ago.
Hubbell employs 19,400 workers company-wide, and last year posted revenue just below $4.5 billion, up nearly a $1 billion from the year before, and increased profits last year 50 percent, to $360 million

[kidyankee764]

Originally Posted by Mr_250

Anyone hear about UTC and Raytheon merging? Sounds cool, except for the fact that CNBC reported the HQ would be in Boston, not Farmington.

https://www.wtnh.com/news/connecticu...ies/2064688533

Looks like it’s a done deal. I’m not sure how this would affect CT positively or negatively, but it’s a pretty huge merger.

It does look like UTC HQ will no longer be in CT, but how that will affect workforce will be the issue.

https://www.google.com/amp/s/www.cou...outputType=amp

“In a blow to Connecticut, the renamed Raytheon Technologies Corp. will move its headquarters to the Boston area, ending a 90-year run in the state that began just after the start of aviation. UTC is headquartered in Farmington.”

[troutman85]

Losing UTC headquarters is a terrible blow for CT. If they start relocating operations after this it’s going to have a real impact on the state.

[htfdcolt]

Originally Posted by troutman85

Losing UTC headquarters is a terrible blow for CT. If they start relocating operations after this it’s going to have a real impact on the state.

I wouldn't conclude this just yet. Keep in mind they've spun off Carrier & Otis, both of whose HQs will therefore remain in CT. UTC HQ per se was always a small entity...their model was to have most of the management in their operating divisions.

I think it's more of a psychological blow, more than anything.

[Mr_250]

Originally Posted by htfdcolt

I wouldn't conclude this just yet. Keep in mind they've spun off Carrier & Otis, both of whose HQs will therefore remain in CT. UTC HQ per se was always a small entity...their model was to have most of the management in their operating divisions.

I think it's more of a psychological blow, more than anything.

Carrier is based in Palm Beach Florida as of November 2018. Otis is still here.