UTC acquires larger stake in Chinese fire systems provider

BEIJING, Dec 24 PRNewswire-AsiaNet - UTC Fire & Security announced that it has entered an agreement to acquire an additional 3.3% share of GST Holdings Limited, which, with regulatory clearance, will bring the company's total ownership to approximately 29%. UTC Fire & Security is a United Technologies Corp. (NYSE: UTX) business unit.

UTC Fire & Security first purchased 18.8% in 2006 through a series of transactions and announced a transaction to increase that amount to 25.8% on December 20, 2007.

Established in 1993, GST is the leading fire alarm system provider in China. Headquartered in Beijing, the company is primarily engaged in the manufacture and distribution of fire alarm systems and fire alarm network products, as well as related products, including security systems, building automation systems and electronic power meters.

UTC Fire & Security is a global provider of fire safety and security solutions serving more than one million customers worldwide. United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries worldwide. For more information visit www.utcfireandsecurity.com

Web site: http://www.utcfireandsecurity.com

Loading