Business & Tech

Raytheon-UTC Merger To Take Place Friday

The Integrated Defense Systems unit, based in Tewksbury, will be combined into a new Missiles & Defense unit based in Tucson, Ariz.

TEWKSBURY, MA — The merger of Raytheon and United Technologies Corp. is set to go into effect Friday, after the companies received regulatory approval, Raytheon announced. The "merger of equals" will close ahead of the market open Friday, after UTC spins off two sub-businesses.

The Tewksbury-based Integrated Defense Systems unit is expected to be replaced with a Missiles and Defense business, based in Tucson, Ariz. But the merged company will be based in the Boston area and incoming CEO Greg Hayes has said he is not planning to cut jobs.

“We’re not looking to consolidate a bunch of factories, and we’re not taking out a lot of jobs,” Hayes told the Eagle-Tribune.

Find out what's happening in Tewksburyfor free with the latest updates from Patch.

The Arizona Daily Star reported the plan to base the new consolidated unit in Tucson in February.

>>UTC, Raytheon, Announce Regulatory Approval For Merger

Find out what's happening in Tewksburyfor free with the latest updates from Patch.

Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.