United Tech consider Chubb manned security services

July 2003 News

The new owners of Chubb, a global provider of electronic security and fire protection products and services, United Technologies said they will take a hard look at Chubb's global manned security business. Steven Page, United Technologies chief financial officer said that once the company names a permanent management team chairman, George David will consider recommendations on the manned security business. United Technologies said that it had no experience of the manned security business and also no view on what it would do with the business.

Page was, however, aware that like their Carrier airconditioning service business the manned security sector had an excellent return on investment and had recurring incomes. United Technologies also said that Chubb employs 27 000 security personnel and it accounted for 30% of its revenue with leading market positions in several countries. United Technologies Corp, with 155 000 employees, was ranked the 149th largest corporation in the world last year by Fortune magazine.

This industrial group manufactures Pratt & Whitney aircraft engines, Carrier heating and airconditioning systems, Otis elevators and escalators, and Sikorsky helicopters. Chubb employs approximately 48 000 people and reported 2002 revenue of £1,5 billion, with more than 1 million customers worldwide and market-leading positions in the UK, France, Hong Kong, Canada, and Australia.

Source: www.infologue.com





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