CR Economic Alliance reacts to Rockwell Collins buyout - KWWL - Eastern Iowa Breaking News, Weather, Closings

CR Economic Alliance reacts to Rockwell Collins buyout

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CEDAR RAPIDS (KWWL) -

One of the largest employers in Iowa is being bought by United Technologies for  $30 Billion. 

Rockwell Collins together with United Technologies will become 'Collins Aerospace Systems.'

The company is expected to have about 70,000 employees and generate around $23 Billion in revenue. 

 Doug Neumann, Executive Director of the Cedar Rapids Metro Economic Alliance says they are optimistic about the changes. 

"Any business that's striving to be the best they can be is always in the midst of change and always looking for opportunities to stay relevant for the future," he told us. 

Rockwell Collins is the largest employer in Cedar Rapids with around 8,000 employees there, they have another 1,000 employees at other locations in Iowa. 

Total the company employs 30,000 people world wide. 

According to their website their brand of electronics is installed in the cockpits of almost every airline in the world and their communication systems are heavily used in the military.

United Technologies is headquartered in Connecticut. 

Rockwell Collins tells us they aren't sure where the headquarters for the new company will be but the decision will be made in the coming months. 
"We will work closely with the state during that process," they said. 

"Sure there's some uncertainty that goes along with this but I think there's a lot of really positive signals about this being a good thing for Rockwell and a good thing for the future," says Neumann. 

Rockwell Collins told KWWL in a statement, "Because Rockwell Collins will no longer be a public company we do expect some impact to related jobs but the overall impact should be minimal."

The purchase of Rockwell Collins is $23 Billion but it includes the companies debt making the total purchase $30 Billion. 

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