UTC currently has a 49.5% in Clipper, after investing around $270 m through a share purchase tender and an issue of new shares.
"If over the next couple of years we see what we like, we always have the opportunity to take a majority share if we want," he said. He said that UTC had seen a “unique” opportunity to take a major stake in Clipper for a relatively small investment because of its shares being depressed by production problems and liabilities over cracks in its turbine blades which had to be replaced.
