HARTFORD, Conn., June 11 /PRNewswire-FirstCall/ -- United Technologies
Corp. (NYSE: UTX) Board of Directors today authorized a share repurchase
program for up to 60 million shares of the company's common stock worth
approximately $4 billion at current prices. The new authorization replaces
a previous program, approved in December 2006, which was nearing
completion.
The company repurchased $2 billion of its shares during 2007 and
expects 2008 repurchases to total $2 billion.
United Technologies, based in Hartford, Conn., is a diversified company
providing high technology products and services to the global aerospace and
building industries.
This release contains forward looking statements concerning anticipated
share repurchases. Actual repurchases may differ materially from those
projected due to a number of uncertainties. The timing and total amount of
share repurchases will depend on market conditions, the level of UTC's cash
balances, alternative investment opportunities and legal restrictions on
the timing of repurchases. Share repurchases may be suspended or
discontinued at any time. Additional uncertainties include those described
in reports filed by UTC from time to time with the Securities and Exchange
Commission, copies of which are available at http://www.utc.com.
Contact: John Moran
(860) 728-7062
http://www.utc.com
UTC-IR
SOURCE United Technologies Corp.
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Related links:
http://www.utc.com/
http://www.prnewswire.com/comp/913919.html/
CONTACT:
John Moran of United Technologies Corp.,
+1-860-728-7062
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