Collins Aerospace headquarters site won't be known until early spring – Winston-Salem Journal

United Technologies Corp. may take until March 31 to determine where to place the headquarters for the Collins Aerospace Systems unit that would be formed as part of its proposed purchase of Rockwell Collins Inc.

The companies have said that Rockwell and UTC’s Aerospace Systems division would be integrated to create Collins Aerospace Systems. Kelly Ortberg, Rockwell’s top executive, would serve as Collins Aerospace’s chief executive.

Rockwell submitted an employee memo, serving as an overall deal update, as a regulatory filing Friday.

Rockwell said that “you may have heard that this would be announced before the end of this calendar year, but we want to make sure we carefully consider all aspects.”

About 200,000 people work for United, which has its headquarters in Farmington, Conn. More than 40,000 work for the UTC Aerospace Systems division based in Charlotte.

Rockwell, based in Cedar Rapids, Iowa, has 30,000 employees, including about 1,600 in Winston-Salem that it inherited from spending $8.6 billion to buy B/E Aerospace Inc. in April.

UTC announced its $23 billion offer for Rockwell on Sept. 4, which includes taking on an additional $7 billion in Rockwell debt.

The plans are to close on the transaction in the third quarter of 2018, possibly in early July. The deal requires regulatory and shareholder approval. Rockwell has agreed to pay UTC a $695 million breakup fee if Rockwell is not able to complete its end of the transaction.

Employees also were told in the memo that Rockwell planned to continue to operate its pension plan, although it may be folded into UTC’s pension plan post-merger.

There are several union labor contracts set to expire before the potential closing of the deal. “Rockwell Collins expects to conduct negotiations with each respective union once the schedule has been established,” according

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