HARTFORD, Conn., June 16, 2014 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) has executed a license agreement with Porsche Consulting for use of the UTC-created Achieving Competitive Excellence (ACE) trademark and operating system. The agreement will allow Porsche Consulting to implement ACE principles solely with UTC suppliers.
The ACE Operating System is a core element of UTC's operations and business performance. It has driven significant results within the company's own operations for nearly two decades. ACE has three elements: culture, tools and competency. Successful application of ACE principles can drive measurable improvements in quality, on-time delivery, employee safety, financial returns and customer satisfaction.
Introduced to UTC at Pratt & Whitney in 1996, the ACE Operating System fuses advanced principles of quality and productivity management. It forms the foundation of a high-performance culture through continuous process improvement, waste elimination, problem-solving and decision-making.
"Since its inception Porsche Consulting has demonstrated that large improvements in operational performance and efficiency can be achieved through the adoption of advanced process optimization concepts," said Norman Firchau, President and CEO of the management consultancy in Atlanta, Georgia. "We are excited to work with UTC and its suppliers to drive improved performance by using the ACE principles and tools."The license agreement covers use of UTC's ACE Operating System, training tools, and UTC's ACE trademark solely with UTC suppliers. Terms of the licensing agreement were not disclosed. "This agreement represents another step in UTC's ACE journey as we create lean transformation in our supply chain while simultaneously increasing the value of the ACE brand," said John Papadopoulos, director global ACE, quality and supplier performance. "This agreement with Porsche Consulting is a great example of how UTC intellectual property can be used to create win-win outcomes for all parties," said Kelly Romano, UTC vice president of business development. "UTC benefits from improved supplier performance and UTC suppliers benefit from having improved access to the proven, world-class ACE tools. Porsche Consulting will have an opportunity to broaden its customer base." Porsche Consulting GmbH, headquartered in Bietigheim-Bissingen, is a subsidiary of the sports car manufacturer Dr. Ing. h.c. F. Porsche AG, Stuttgart. Founded in 1994 with a staff of four, it currently employs more than 360 people. An internationally active company with four subsidiaries of its own located in Milan ( Italy), São Paulo (Brazil), Atlanta ( USA), and Shanghai ( China), Porsche Consulting is one of Germany's leading management consulting companies. Its experts in operational excellence advise companies worldwide in the automotive, aerospace and mechanical engineering industries. Additional clients come from the consumer goods and health care sectors. United Technologies Corp., based in Hartford, Connecticut, provides high-technology products and services to the building and aerospace industries. To learn more about UTC, visit its website at www.utc.com, or follow the company on Twitter: @UTC. Contact: Danielle Smith, (860) 728-6238
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts