A military giant that employs more than 200 workers in North Wales has entered into a merger deal that will create one of the world’s largest defence companies.
Raytheon and United Technologies are coming together in a merger announced on Sunday - although US President Donald Trump has voiced concerns over the deal.
The UK part of the Raytheon firm employs hundreds of workers at Hawarden airport in Broughton, supporting the RAF’s Sentinel and Shadow fleet of aircraft.
The combined company, named Raytheon Technologies, will be based near Boston.
Donald Trump said he has concerns it could harm competition and make it more difficult for the US government to negotiate defence contracts.
United Technologies’ current chairman and chief executive Greg Hayes will be its CEO. Raytheon chief Tom Kennedy will be its executive chairman.
Waltham-based Raytheon was founded in 1922 and makes missile and cyber security systems.
Connecticut-based United Technologies was founded in 1934 and serves the aerospace and building sectors.
The combined companies will have total sales of approximately 74 billion dollars in 2019.
“Today is an exciting and transformational day for our companies, and one that brings with it tremendous opportunity for our future success.
"Raytheon Technologies will continue a legacy of innovation with an expanded aerospace and defence portfolio supported by the world’s most dedicated workforce,” said Tom Kennedy, Raytheon Chairman and CEO.
“With our enhanced capabilities, we will deliver value to our customers by anticipating and addressing their most complex challenges, while delivering significant value to shareowners.”
Greg Hayes, United Technologies chairman, said “The combination of United Technologies and Raytheon will define the future of aerospace and defence.
“Our two companies have iconic brands that share a long history of innovation, customer focus and proven execution.
“By joining forces, we will have unsurpassed technology and expanded R&D capabilities that will allow us to invest through business cycles and address our customers’ highest priorities.
“Merging our portfolios will also deliver cost and revenue synergies that will create long-term value for our customers and shareowners.”
