United Tech. to buy remaining stake in Clipper

United Technologies Corp. said Monday it will buy the remaining stake in Clipper Windpower it doesn't already own for about $112 million.United Technologies currently owns a 49.9 percent stake in the California-based wind turbine manufacturer.The parent company of jet engine maker Pratt &...

Oct 18th, 2010

The Associated Press

United Technologies Corp. said Monday it will buy the remaining stake in Clipper Windpower it doesn't already own for about $112 million.

United Technologies currently owns a 49.9 percent stake in the California-based wind turbine manufacturer.

The parent company of jet engine maker Pratt & Whitney, Otis elevator and Sikorsky Aircraft, among others, said the acquisition will go through a court-approved arrangement and is still subject to closing conditions and the approval of Clipper's shareholders.

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