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HARTFORD, Conn., June 28, 2012 /PRNewswire/ -- United Technologies Corp. (NYSE:UTX) today announced that it has resolved previously disclosed enforcement actions brought by the U.S. Department of Justice and the Department of State in connection with past violations of U.S. export control regulations.

The resolution includes Pratt & Whitney Canada (P&WC), a United Technologies company, pleading guilty to violating the State Department's International Traffic in Arms Regulations (ITAR), as well as the False Statements Act. The plea arises out of the improper export to China of modifications to Hamilton Sundstrand engine control software incorporated into P&WC helicopter engines from 2002-2005. The Justice Department has agreed to defer any action against United Technologies and Hamilton Sundstrand arising out of these improper exports pending implementation of certain remedial obligations.

Commenting on the resolution, United Technologies Chairman & Chief Executive Officer Louis Chenevert stated, "Export controls are an integral part of safeguarding U.S. national security and foreign policy interests. As a supplier of controlled products and technologies to the Department of Defense and other domestic and international customers, we are committed to conducting business in full compliance with all export laws and regulations. We accept responsibility for these past violations and we deeply regret they occurred."

The agreement with the Department of State resolves self-disclosures made by the Company between 2006 and 2012, and includes $55 million in penalties, of which $35 million will be paid in cash over four years. The remaining $20 million will be suspended subject to certification and approval of qualifying compliance expenditures. Under the resolution with the Department of Justice, the UTC companies will collectively pay penalties totaling $20.7 million. The Company has fully reserved to account for all payments under the settlement agreements.

The State Department's Office of Defense Trade Controls Compliance will impose a partial statutory debarment from ITAR license privileges on P&WC. The debarment will not affect existing export authorizations, nor will it affect P&WC's ability to continue to perform existing programs for the U.S. Government, NATO members and certain other U.S. allies, or programs that support Operation Enduring Freedom. P&WC will also be able to seek other ITAR authorizations on a case-by-case basis. P&WC will be eligible to apply for full reinstatement after one year.

"These violations revealed important opportunities to strengthen our export compliance program. We have taken considerable steps to improve our export controls and to enhance our compliance infrastructure. The Department of Justice and Department of State recognized both our cooperation in their investigations and the significant remedial actions we have taken. Under the agreements, UTC will continue and accelerate its efforts to achieve world-class performance in export compliance," Chenevert said.

"Our commitment to best-in-class compliance across the entire company involves investments in the best people, processes and systems. Since 2006, UTC has invested more than $30 million to strengthen its export compliance infrastructure, including IT system enhancements and process improvements as well as increased employee training and communications efforts. The company also has dedicated more than 175 executives, managers and professionals full-time to export compliance, and hundreds more on a part-time basis. All of these measures reflect UTC's commitment to fully comply with export control laws," he added.

United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.

Contact: John Moran(860) 728-7062

www.utc.com

UTC-IR

SOURCE United Technologies Corp.