Courtney Statement on UTC-Raytheon Merger
WASHINGTON, DC – Congressman Joe Courtney (CT-02) released the following statement after yesterday’s announcement that United Technologies Corporation (UTC) would be merging with Raytheon.
“Like any merger, this one comes with a long list of questions,” said Congressman Courtney, “but the primary concern is determining what sort of impact this will have on our UTC employees and manufacturers here in Connecticut. Based on my interactions with both companies, it appears that there is little risk of redundancy in terms of UTC’s and Raytheon’s manufacturing efforts. These firms focus on delivering very different products, and the possibility of job reductions in Connecticut’s manufacturing sector because of this merger seems to be quite low. There are some unique questions surrounding this union – like the movement of UTC’s corporate headquarters to Massachusetts, the home of the junior partner in the transaction – and like any other merger it needs to be looked at in totality to ensure that it doesn’t threaten competition in the market. I look forward to hearing more from UTC leadership in the coming days to learn more about the details of the agreement, and the way forward.
“Connecticut’s manufacturing sector has enjoyed a surge of recent activity, and I’m pleased that the House Armed Services Committee will vote this week on another strong defense spending bill that will once again boost programs that support and grow defense jobs in Connecticut. While I work with my colleagues in the House to advance the FY 2020 defense spending bill this week, I will continue to closely monitor the UTC-Raytheon merger and to make myself and my office available to any UTC employees who might need assistance.”