UNITED Technologies Corp, the owner of Chubb Australia, has announced the formation of UTC Building & Industrial Systems, combining Otis Elevator Company and UTC Climate, Controls & Security, and named Geraud Darnis as President & CEO of this new organization.

UTC Building & Industrial Systems will be the world's largest high-technology building systems provider with more than 120,000 employees, $US29 billion in annual sales and a direct presence in more than 60 countries. 

The organization's products include Otis elevators and escalators; Carrier heating, air-conditioning and refrigeration systems; and fire and security solutions from brands such as Kidde and Chubb.

"The formation of UTC Building & Industrial Systems positions UTC for long-term growth in the commercial building market and will allow us to fully unlock the opportunities and synergies associated with the combined talent, portfolio, resources and capabilities of Otis and UTC Climate, Controls & Security," said Louis Chenevert, United Technologies' chairman and CEO.