Joint technology announces cost-cutting plan

"MarketWatch New York May 19" Beijing Time May 20 Morning News, United Technologies Corp. (UTX) chief Executive Officer Louis Mr. Chenevert (Louis Chenevert) said in Tuesday that　　The company will vigorously implement cost-cutting measures, especially in the carrier company, a subsidiary of HVAC manufacturers, to cut production costs to counter the adverse effects of the slowdown in the market for construction and transport refrigeration equipment. Mr. Chenevert reiterated revenue and earnings forecasts for the year and said it expects the company's earnings to grow next year. United Technology is headquartered in Connecticut State Hartford, the aircraft engine manufacturer (Pratt &whitney), Aerospace manufacturing Shanghanshe Aerospace (Hamiltonsundstrand), Otis Elevator Company (Otis) and Sikorsky Aircraft Company (　　Sikorskyaircraft) and the parent companies of some other companies. Mr. Chenevert the company plans to cut its sales and management costs for its carrier HVAC plant by 15% in 2008, a 20% reduction in research and development costs, a 25% reduction in labour costs and a 35% reduction in capital expenditure, the analyst and investor meeting said today.　　And cut some other costs. "In order to adapt to the current market environment, carrier will adjust its size appropriately," he said. "In March this year, the joint technology company said it expects the carrier sector to reduce its earnings to $375 million trillion to $425 million this year."　　The department's 2008 consecutive business earnings were 1.32 billion dollars. US-East Time Tuesday 2:48, the combined technology shares fell 29 cents, or 0.55%, to $52.69.