Thursday, 31 July 2014
Last updated 52 min ago
Dec 16 2009 | 11:17am ET
UTC’s will invest GBP 166 million ($270 million) to purchase a combination of 84.3 million newly issued shares and 21.8 million shares from existing shareowners. The investment has been approved by the boards of directors of both UTC and Clipper Windpower, and closing is pending Clipper Windpower shareholder and regulatory approval.
Clipper Windpower is engaged in wind energy technology, turbine manufacturing and wind project development. Headquartered in Carpinteria, California, the company has a turbine manufacturing plant in Cedar Rapids, Iowa, and research and development facilities in Carpinteria, California, and Blyth Harbor, U.K. The company had 2008 revenues of $737 million.
The agreement allows UTC to expand its power generation portfolio and enter the high-growth wind power segment by investing in a company with strong management and innovative technology.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…