|To: Patriarch who wrote ()||2/20/2000 10:53:00 AM|
United Technologies Corp., Honeywell, and i2 to Create Open E-Business Marketplace for Aerospace Industry MyAircraft.com to Serve Virtually All the World?s Aircraft|
Customers To Benefit From Increased Efficiency In Managing And Trading Parts and Services
HARTFORD, Conn., MORRISTOWN, N.J. and DALLAS, Texas, Feb. 14, 2000 ?United Technologies Corp. (NYSE: UTX), Honeywell (NYSE: HON), and i2 Technologies Inc. (Nasdaq: ITWO) announced today their intention to launch MyAircraft.com, a joint venture focused on developing and operating a comprehensive open electronic marketplace for aerospace products and services available to all industry participants. The aerospace industry currently generates about $500 billion in worldwide sales annually.
The joint venture will utilize i2?s TradeMatrix platform to provide business-to-business collaboration, supply chain management, parts planning and procurement solutions in an open Internet marketplace that will enable airlines, original equipment manufacturers (OEMs) and their suppliers to improve their business performance. The i2 solution will enable marketplace participants efficiently to buy, sell and trade parts and services; utilize supply chain management services such as demand forecasting and inventory planning; access technical experts; and view on-line technical publications.
Honeywell and UTC, have combined aerospace revenues of more than $20 billion annually, and offer wide ranges of products and services with placements on virtually all of the world?s aircraft.
The two companies service commercial transport, regional, business, general aviation and military segments, with propulsion systems, integrated avionics, environmental control systems, auxiliary power units, electrical power generation and distribution systems, and landing systems. Their commitment to a joint venture, powered by i2, is expected to attract widespread participation among aerospace companies.
The initial phase of the site implementation is expected to occur in the second quarter of this year. MyAircraft.com will feature a Web-enabled supply chain that includes multi-enterprise participation, procurement and bid-auction capabilities necessary to streamline operations and provide customers with visibility across the aerospace industry. The site?s services will enable participants to reduce cycle times, improve transaction flows and manage parts inventories.
MyAircraft.com will be structured and operated as an independent company chartered to develop an open e-marketplace, utilizing leading-edge software solutions. The new company will encourage all airlines, OEMs and suppliers to participate within an open architecture framework. UTC and Honeywell will own equal shares of this venture, with i2 owning the balance.
?Thanks to the extensive capabilities the partners in MyAircraft.com bring to the table, this marketplace will touch virtually all aircraft in the world, and its advantages as a natural place to expedite efficient, intelligent transactions and offer e-business services will be second to none,? said Michael R. Bonsignore, Honeywell CEO. ?Our aim is to create a comprehensive, leading-edge environment that will dramatically change the rules for how the business of aerospace gets done.?
?The combination of UTC?s and Honeywell?s aerospace market access and knowledge with i2?s leading trading exchange solution will be exceptionally effective,? said George David, UTC chairman and CEO. ?MyAircraft.com has the potential to create great value through savings and the addition of value-added services in a business with more than $50 billion in aftermarket volume.?
?The combination of Honeywell?s and UTC?s experience in the aerospace industry, along with i2?s leading solutions for business-to-business applications, positions MyAircraft.com to be a premiere business-to-business marketplace for the aerospace industry,? said Sanjiv Sidhu, i2 chairman and CEO. ?By enabling intelligent supply chain planning, seamless collaboration between customers and suppliers and trading of spare parts, MyAircraft.com will deliver unique value to participants.?
The formation and terms of the new venture are subject to various contingencies, including the negotiation of binding agreements.
About United Technologies:
United Technologies Corp., based in Hartford, Conn., provides a broad range of high technology products and support services to the building systems and aerospace industries. Those products include Pratt & Whitney aircraft engines, space propulsion systems and industrial gas turbines; Carrier heating, air conditioning and refrigeration; Otis elevator, escalator and people movers; Hamilton Sundstrand aerospace and industrial products; and Sikorsky helicopters. A member of the Dow Jones Industrial Average, UTC's 1999 revenues were $24.1 billion. UTC has 148,300 employees, including roughly 69,000 outside the U.S. Additional information on UTC is available on the Internet at utc.com.
Honeywell is a US$24-billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; power generation systems; specialty chemicals; fibers; plastics; and electronic and advanced materials. The company employs approximately 120,000 people in 95 countries. Honeywell is traded on the New York Stock Exchange under the symbol HON, as well as on the London, Chicago and Pacific stock exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor?s 500 Index. Additional information on the company is available on the Internet at honeywell.com.
i2 Technologies, Inc. is the leading global provider of intelligent e-business solutions. Founded in 1988, i2's vision is to add $50 billion of value for its customers by the year 2005. i2 is headquartered in Dallas, Texas, has approximately 3,000 employees and maintains offices worldwide. Additional information is available at i2.com.
TradeMatrix is a platform for building business-to-business and business-to-consumer marketplaces. TradeMatrix includes the broadest spectrum of solutions and hosted services available, enabling customers, partners, suppliers, and service providers to conduct business in real-time, and to make more profitable decisions. TradeMatrix services and marketplaces are powered by i2?s advanced optimization and execution capabilities for improved decision-making.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, formation and terms of the joint venture, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties connected with negotiation and creation of a new joint venture and start-up of an Internet marketplace, acceptance by industry participants, competition, and those inherent in business forecasts. For additional discussion of factors which could impact the companies? or the venture?s financial results, please refer to the companies? recent filings with the SEC.
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|To: Patriarch who wrote ()||2/20/2000 3:40:00 PM|
RESEARCH ALERT - United Technologies raised|
NEW YORK, Feb 17 (Reuters) - Merrill Lynch said analyst Jeanne Terrile raised the intermediate-term rating on United Technologies Corp. (NYSE: UTX) to buy from accumulate.
-- In October, Terrile raised the long-term rating to buy from accumulate but kept the intermediate-term rating at accumulate due to anxiety over aerospace business.
-- "We think that anxiety is passing and we think that the aerospace business is bottoming," Terrile said in a report Thursday.
-- Merrill is confident that United Technologies can deliver 15 percent or greater earnings per share growth in 2000 and 2001.
-- Keeping 2000 earnings estimate of $3.45-$3.50 a share and 2001 estimate of $4.00 a share.
-- Sees $70 12-month stock price based on a multiple of 20 times 2000 EPS.
-- The shares closed at 52-1/8 Wednesday on the New York Stock Exchange
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|To: Patriarch who wrote ()||2/20/2000 3:42:00 PM|
RESEARCH ALERT- Salomon raises United Technologies|
NEW YORK, Feb 15 (Reuters) - Salomon Smith Barney said Tuesday it upgraded its rating on shares of United Technologies (NYSE: UTX) to a buy from outperform based on the company's low valuation.
--"The stock is currently selling at a value only equal to its sum-of-the-parts valuation," said George Shapiro, analyst at Salomon, in a research note.
--Salomon Smith Barney said its expects the technology and industrial giant to see earnings growth of at least 15 percent in 2000 and possibly at a higher rate in 2001 as restructuring benefits are fully realized.
--United Technologies also stands to gain from the Asian recovery as nearly 20 percent of sales are from Asia, Salomon said in the note.
--Shares of Connecticut-based conglomerate, which is one of the 30 stocks in the Dow Jones industrial average, closed up 2-1/8 at 52-7/16 on the New York Stock Exchange amid a broad stocks rally.
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|To: Patriarch who wrote (3)||9/21/2000 11:35:50 PM|
|UTX and Fuel Cells...Some recent announcements|
United Technologies cautious on fuel cell IPO
By Simon Hirschfeld
NEW YORK, Sept 20 (Reuters) - United Technologies Corp. (NYSE:UTX - news) is considering a partial IPO of its fuel cell business, but also sees negative aspects to such a move, which could distract from focusing on the high growth-potential business.
Tuesday September 19, 8:15 am Eastern Time
SOURCE: International Fuel Cells
UTC'S International Fuel Cells and Shell Agree to Establish Fuel Processing Joint Venture
SOUTH WINDSOR, Conn. and HOUSTON, Sept. 19 /PRNewswire/ -- International Fuel Cells, a unit of United Technologies Corporation (NYSE: UTX - news), and Shell Hydrogen US, a division of Shell Oil Products Company (Shell), today announced their intent to establish a 50-50 joint venture company to develop, manufacture, and sell fuel processors for the emerging fuel cell and hydrogen fuel markets.
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|To: a.m. fisher who wrote (5)||12/18/2000 12:17:25 AM|
|a.m. fisher...Check out this...|
Thirst For Juice
By SUSAN E. KINSMAN
The Hartford Courant
December 17, 2000
Demand for electricity is growing worldwide, but reliable supplies of power are not always where they are needed. And the uncertainty is a major headache to companies whose businesses depend on uninterrupted power.
For United Technologies Corp., the uncertainty is an opportunity.
UTC sees the volatility and deregulation of electric power markets as a critical window to boost its sales of power generation equipment. And it is in the market with very different technologies - gas-powered turbines and environmentally friendlier fuel cells.
The venerable aerospace and building systems manufacturer is admittedly playing catch-up in power generation - even though its International Fuel Cells has one of the world's only commercially available fuel cells and Pratt & Whitney has been in the gas turbine business for 40 years.
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|To: jbkelle who wrote (4)||5/9/2001 1:18:23 PM|
|Can somebody bring me up to date on the Fuel Cell business that UTX owns? It is a real hot business right now and I wonder what UTX is doing about it. FCEL and DiamlerChrysler just installed a Fuel Cell plant that runs a hospital in Germany. |
FCEL, PLUG, etc are getting a lot of stock appreciation just due to the "story" of Fuel Cells.
I would hate to think that UTX winds up sitting on its ass and doing nothing with a great product. You don't hear UTX mentioned when Fuel Cell talk is in the news and it seems to me that we should.
Anybody know anything about UTX plans in the Fuel Cell business?
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|To: Patriarch who started this subject||9/4/2001 12:30:52 PM|
|IFC's Sale Of PC25(TM) Power Plant To Woking, England, Gives United Kingdom Its First Fuel Cell |
SOUTH WINDSOR, Conn., and WOKING, England, Sep 4, 2001 /PRNewswire via COMTEX/ -- International Fuel Cells, a unit of United Technologies Corp. (NYSE: UTX), today announced the sale of a fuel cell system that will power a recreational center in Woking, England and be the first commercial fuel cell operating in the United Kingdom.
Woking, a community of 93,000 people, is located 25 miles southwest of London. The 200-kilowatt PC25 system will be installed at Woking Park and will provide electricity and heat for the Pool in the Park recreational center as well as electricity to light the park. In the summer, the heat will be used to meet the recreational center's air conditioning, cooling and dehumidification requirements via heat-fired absorption cooling. The PC25 produces 900,000 Btus of heat.
"The installation in Woking is yet another milestone for IFC and the PC25 power plant," said IFC President William Miller. "PC25s now provide clean, efficient and reliable energy in 17 countries on six continents, further demonstrating its capabilities and IFC's leadership in the fuel cell industry."
The PC25 is part of a larger, combined heat and power system that will include a 1.35 megawatt reciprocating engine and solar photovoltaic cells, which will be provided by other vendors.
"Installing a fuel cell is a logical part of our ongoing efforts to promote and use sustainable energy sources," said Allan Jones MBE, Energy Services Manager. "We are proud to be the first site in the United Kingdom to employ fuel cell technology in everyday use."
Jones said that Woking Borough Council is the only local authority in the U.K. to supply electricity directly to customers on private wire networks, which enable the council to make better use of green technologies such as fuel cells by maximizing the true value of green electricity rather than selling the electricity to the grid at a far lower price.
Jones said that this innovative feature also enables the council to continue to supply electricity as well as heat and cooling in island generation mode at full load in the event of a failure of the national grid, thus providing further security of supply to customers.
Jones said this is only possible on private wire networks and this project will be the first example of a fuel cell operating as part of such a system.
The council intends to make the fuel cell visible to the public and to provide information for visitors on how the power plant operates. The fuel cell system is scheduled to begin operating by year-end.
The council this year became the first local authority ever to win Britain's most coveted commercial award, the Queen's Award for Enterprise, in recognition of its groundbreaking approach to local sustainable community energy systems and the practical steps it is taking locally to tackle global warming.
A fuel cell is an electrochemical device that combines hydrogen, or hydrogen-rich fuel, and oxygen to produce electricity, heat and water. Fuel cells operate without combustion, making them almost pollution-free. While a traditional generating system produces as much as 25 pounds of pollutants to generate 1,000 kilowatt-hours of electricity, the PC25 power plant produces less than an ounce. IFC has manufactured the PC25 power plant since 1991 and has delivered more than 220 units.
International Fuel Cells is the world leader in fuel cell production and development for commercial, transportation, residential and space applications. IFC is the sole supplier of fuel cells for U.S. manned space missions and the only company currently producing a commercially available fuel cell power plant
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