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UTC Fire & Security Acquires Larger Share of GST Holding

发布时间:2018-11-08 08:07 浏览次数:K8

BEIJING, Dec. 20 /Xinhua-PRNewswire/ -- UTC Fire & Security announced that it has entered an agreement to acquire an additional 7.0% share of 大发官方娱乐GST Holdings Limited, bringing the company's total ownership to 25.8%. The transaction is subject to regulatory clearance. UTC Fire & Security is a United Technologies Corp. (NYSE: UTX) business unit.

Established in 1993, GST is the leading fire alarm system provider in China. Headquartered in Beijing, the company is primarily engaged in the manufacture and distribution of fire alarm systems and fire alarm network products, as well as related products, including security systems, building automation systems and electronic power meters.

UTC Fire & Security first acquired a 9.9% share in July of 2006 and increased its share to 18.8% in subsequent transactions.

"We are pleased with the opportunity to increase our investment in GST. GST's strong distribution network and brand recognition make it an attractive investment," said William Brown, President UTC Fire & Security. "We look forward to continued cooperation with GST on improving fire safety in China. Our increased investment is an important part of our China expansion strategy and indicative of our commitment to GST."

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.