Cohocton Wind Watch: United Technologies Sells Clipper Windpower to Platinum Equity
Cohocton Wind Watch is a community citizen organization dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life in Cohocton, NY and in surrounding townships. Neighbors committed to public service in order to achieve a reasonable vision for a Finger Lakes region worthy of future generations.


READ about the FIRST WIND Connection to the Obama Administration

Industrial Wind and the Wall Street Cap and Trade Fraud




********************************************************************

Tuesday, August 07, 2012

United Technologies Sells Clipper Windpower to Platinum Equity

United Technologies Corp. (UTX), the industrial conglomerate, sold its Clipper Windpower unit to Platinum Equity LLC, completing a divestiture announced in March.

United Technologies, based in Hartford, Connecticut, didn’t disclose terms of the deal in a statement today.

The company in March said it was seeking the sale of Clipper and other units to raise $3 billion for its purchase of aerospace parts-maker Goodrich Corp. United Technologies’ sold its Pratt & Whitney Rocketdyne unit to GenCorp Inc. (GY) for $550 million in July.

United Technologies bought a 49.5 percent stake in Clipper for $206 million in December 2009 and paid $222 million to buy the rest of the company a year later. Reduced orders left the Carpinteria, California-based wind-turbine maker struggling to finance operations.

“We bought into this business with the thought that there was going to be a renewable energy mandate in this country, and there has not been one,” United Technologies Chief Financial Officer Greg Hayes said in March at a New York investor meeting.

“We went into this business thinking that the growth we’d seen in the last five years would continue as the push for renewables in this country accelerated,” he said, “That has not happened.”

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home


Click on link to submit your SEC complaint on the
First Wind Holdings Inc. IPO public offering


TEN Reasons
Why the SEC should not allow First Wind to be listed on NASDAQ

First Wind Holdings Inc. 12/22/09 SEC S1/A IPO Filing

First Wind Holdings Inc. 7/31/08 SEC S1 IPO Filing

May 14, 2010 addition to the First Wind Holdings Inc. SEC S1A IPO Filing

August 18, 2010 amendment 7 to the First Wind Holdings Inc. SEC S1A IPO Filing

October 13, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing

New October 25, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing


FIRST WIND Lays an Egg WITHDRAWS IPO
after Wall Street no confidence in company




Send email request to join - RIWT Facebook Groupsplus
cohoctonwindwatch@gmail.com

RIWT is open to the public

Risks of Industrial Wind Turbines is a group of citizens and organizations dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life of residents and future generations.

**************