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United Tech to resume buybacks in 2013, CEO says
September 13, 2012 / 2:06 PM / 5 years ago

United Tech to resume buybacks in 2013, CEO says

Sept 13 (Reuters) - Diversified U.S. manufacturer United Technologies Corp plans to resume buying back its shares in 2013, as it returns to a normal spending pattern after closing its largest-ever acquisition, a $16.5 billion deal for aerospace components maker Goodrich Corp earlier this year, Chief Executive Louis Chenevert said Thursday.

The world's largest maker of elevators and air conditioners does not anticipate pursuing other acquisitions comparable in size to Goodrich, Chenevert told an investor meeting. It had suspended buybacks this year as it focused on funding the Goodrich deal.

"Big deals, in my view, are done at UTC," he said.

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