UTC Completes Divestment of NZ Guarding Business

UTC Fire & Security Completes Divestment of New Zealand Guarding Business

AUCKLAND, Sept 25/Medianet International-AsiaNet/ --–

UTC Fire & Security announced that it has entered into an agreement for the sale of its New Zealand manned guarding and mobile patrol businesses to ISS Holdings NZ Limited. The closing is subject to New Zealand Commerce Commission approval. The company first announced its intention to divest these businesses last year. This agreement follows the recent sale of Chubb’s guarding and patrol businesses in Australia. Financial details of the transaction were not disclosed. UTC Fire & Security is a unit of United Technologies Corporation (NYSE:UTX).

The sale is part of UTC Fire & Security’s strategy of focusing on the technology orientated products and services it offers to customers in key geographies. UTC Fire & Security will continue to provide fire safety, electronic security, asset security, and cash logistics products and services to customers in New Zealand through the Chubb New Zealand businesses Chubb Electronic Security, Chubb Cash Services, Chubb Fire and Services and Chubb Asset Security.

UTC Fire & Security is a global provider of fire safety and security solutions serving more than one million customers worldwide. United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries worldwide. For more information visit www.utcfireandsecurity.com.

ENDS

© Scoop Media