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UTC leases executive offices in Florida

UTC, Rockwell still expecting to close deal by early December

FILE PHOTO: United Technologies logo is displayed on a screen at the post where it’s stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 5, 2017. REUTERS/Brendan McDermid/File Photo                         GLOBAL BUSINESS WEEK AHEAD
FILE PHOTO: United Technologies logo is displayed on a screen at the post where it’s stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 5, 2017. REUTERS/Brendan McDermid/File Photo GLOBAL BUSINESS WEEK AHEAD

United Technologies Corp. has leased executive office space in Florida.

According to the West Palm Beach Post, the Farmington, Conn.-based company subleased the entire 18th floor of a waterfront office building at 777 S. Flagler Drive in Palm Beach County earlier this fall. The space spans 16,000 square feet and can hold up to 30 employees.

UTC spokesperson Michele Quintaglie said the West Palm Beach office will be a “small executive leadership office.” No plans have been set for one overall divisional headquarters, she said.

Collins Aerospace will maintain a “strong presence” in Cedar Rapids, and Charlotte, N.C., with six primary business units led by executive teams out of four states — Iowa, California, Connecticut and North Carolina — Quintaglie wrote in an email to The Gazette on Tuesday.

The $30 billion plus debt deal for UTC to acquire Rockwell, Cedar Rapids’ largest private employer, is currently under review by Chinese antitrust authorities. It is the last regulatory hurdle the two companies need to pass before closing the deal.

In UTC’s third quarter conference call in October, UTC CEO Greg Hayes told analysts he expects the deal to gain Beijing’s approval and close within two to six weeks, which would be around early December.

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