UTC Sells Wind Power Unit To Finance $18.4B Goodrich Buy

Law360, New York (August 7, 2012, 10:24 PM EDT) -- Aerospace technology company United Technologies Corp. has sold its wind-power technology unit to Los Angeles-based private equity firm Platinum Equity LLC as part of its efforts to finance its $18.4 billion purchase of aerospace company Goodrich Corp., the firm said Tuesday.

Hartford, Conn.-based UTC said in March that it was discontinuing operations of its Clipper Windpower unit, the California-based wind energy technology company it acquired in December 2010, in order to finance the Goodrich purchase that closed in July.

Terms of the Clipper sale were not...
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