United Technologies Sells Fuel Cell Business to ClearEdge

On Saturday, United Technologies (NYSE: UTX  ) announced the latest step in its plan to refocus the company on its "core aerospace and commercial businesses."

Following on the heels of its sale of Pratt & Whitney Power Systems to Mitsubishi Heavy Industries, announced two weeks ago, UTC says it will now divest its small UTC Power fuel cells unit as well. UTC Power will be sold to commercial fuel cell power company ClearEdge Power, of Hillsboro, Ore.

Terms of the agreement were not disclosed. This sale is expected to close in early 2013.


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