May 14, 2007
UTC Fire acquires Finnish company
United Technologies Fire & Security has acquired Marioff Corp. Oy, a Finland-based manufacturer of fire suppression equipment, for $360 million in a deal expected to close by the end of June. Marioff, one of the largest makers of water mist fire suppression systems, has operations in 11 countries and projected 2007 sales of more than 100 million euro. UTC said that new fire and environmental regulations that favor water mist systems made Marioff an attractive target for the Farmington-based firm. Marioff employs 350 people.
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