“If we missed the next cycle we were out for 20 to 30 years” this were the words of Louis R. Chenevert when he became president of Pratt & Whitney Canada. This was an admission that that saw him begin with zeal the technological evolution in the company where he oversaw a steady rise in revenue and production for the period which he headed the company. The Mantra proved to be so successful that by 2006 he was appointed CEO and president of United Technologies corporation the parent company of Pratt & Whitney.
The former CEO knew he was responsible for growing the entire company and it’s here that he shifted his focus and began to seek a balance in United’s portfolio of businesses to fit their diverse markets and clients. He identified that the demand cycles in the commercial world and the military world often had an interchanging rhythm in that whenever demand for commercial jet engines went down due to international uncertainty the demand for military engines would surges as countries responded to this uncertainty. This realization is what gave him the ability to deploy the resources of their aerospace division productively.
With this wealth of information, Chenevert led UTC in the acquisition of Goodrich aerospace he knew that by combining the technology of Goodrich and Pratt & Whitney, United would be able to move its development into the areas of commercial and military development and would be in a position to offer their clients across the globe a market equivalent of a one-stop shop for the most advanced geared turbofans and airframe integrators.
Secondly, he led the acquisition of a controlling interest in the International Aero Engines consortium this was meant to offer a better relationship with operators of narrow-body aircraft who were among the best-performing clients.
His third strategy was to merge the capabilities of Otis elevators and escalators with those of Carrier air conditioning enabling the company to offer comprehensive solutions to developers of high rise office blocks and transportation hubs.