A military giant that employs thousands of workers across the UK has completed a merger deal that will create one of the world’s largest defence companies.
Raytheon and United Technologies have merged to create Raytheon Technologies Corporation.
The UK part of the Raytheon firm employs 1,500 staff in Wales, England and Scotland - including supporting the RAF’s Sentinel and Shadow fleet of aircraft at Hawarden airport in North Wales.
Raytheon Technologies Corporation announced the successful completion of the all-stock merger of equals transaction.
Headquartered in Waltham, Massachusetts, Raytheon Technologies is now one of the largest aerospace and defense companies in the world with approximately $74 billion in pro forma 2019 net sales and a global team of 195,000 employees.
“Raytheon Technologies brings together two companies with combined strengths and capabilities that make us uniquely equipped to support our customers and partners during this unprecedented time," said Greg Hayes, CEO of Raytheon Technologies.
"We will also play our part in the war on the COVID-19 pandemic, including doing everything we can to keep our employees around the globe safe and well”
“As we move forward, Raytheon Technologies will define the future of aerospace and defense through our focus on innovation, our world-class people and our financial and operational strength to create long-term value for our customers and shareowners.”
