HARTFORD, CT (WFSB) - More about United Technologies' plan to separate into three independent companies was released on Tuesday.
UTC held a conference call in the morning to discuss the announcement, which came on Monday night.
The plan has the potential to impact thousands of employees in Connecticut, as UTC employs nearly 240,000 people around the world.
However, the company's media relations department said there would be no immediate impact on jobs.
“Connecticut continues to be important to United Technologies," said Michele Quintaglie, head of external relations, UTC. "[Monday’s] announcement doesn’t change that. We have hired more than 1,500 people to support our Connecticut operations to date this year alone in addition to more than 2,500 in 2017."
UTC sold off Sikorsky Aircraft three years ago.
Once a conglomerate, UTC said the plan came after it sealed the acquisition of aviation electronics maker Rockwell Collins.
The three separate companies will be United Technologies, which will house Collins Aerospace Systems and Pratt & Whitney, Otis, the makers of elevators, escalators and moving walkways, and the Carrier Air Conditioning and Building Systems business.
UTC said during Tuesday's conference call that each business will have a global scale.
Headquarters will be established for each company; however, the locations will be determined closer to the date of the separation.
Channel 3 spoke with an industry expert who said because UTC will now oversee fewer sectors, Connecticut jobs could be trimmed.
"Now the consensus is conglomerates don't work as well as people had anticipated," said David Cadden, professor emeritus, Quinnipiac University. "They're going to narrow their focus and be able to generate additional funds by selling off the other units."
However, UTC said there will be job opportunities that did not exist before.
The separation is expected to be completed in 2020.
"This is going to take time to see how this all plays out. The deal won't be completed for another 18-24 months," said Joe Cooper, of the Hartford Business Journal.
He said it's still not clear how jobs will be affected.
"It's a huge opportunity for Gov.-elect Lamont and his administration to recast and create a good business relationship not only with UTC legacy the aerospace, but maintain and build upon what we have with Carrier and Otis," said Ken Goroshko, of the University of Hartford School of Business.
Gov.-elect Ned Lamont, who was at a summit on Tuesday, said he's focused on what's next.
"How do we help them expand, how do we make them grow in the state, to make sure this is the place they want to be, they have a lot of incentives to keep staying here and I am going to make sure they stay here," he said.