May 22, 2012 | last updated June 1, 2012 2:44 pm

UTC hints CT fuel-cell unit could be sold

The chief executive of Hartford industrial conglomerate United Technologies Corp. has hinted that its fuel cell business could be sold, The Associated Press reports.

Louis Chenevert, CEO of the parent of aviation and building systems companies, told investment analysts on Tuesday that United Technologies is looking at what he called its "strategic options" at UTC Power, based in South Windsor.

He did not elaborate.

A spokesman said in a written statement that the company always evaluates business alternatives, but he also did not elaborate.

UTC is selling another energy business, Clipper Windpower, to help finance its $16.5 billion purchase of aviation parts manufacturer Goodrich Corp.

Chenevert said greater use of natural gas and weak renewable energy markets have pressured wind power.

He said the Goodrich purchase will close by late July.

UTC shares rose 87 cents to $74.57 in afternoon trading.


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