United Technologies CEO Greg Hayes told Jim Cramer in an exclusive interview on Monday about his conversation with Donald Trump last week, and says there was no "quid pro quo" with the president-elect.
"I think we came up with a relatively good solution for everybody … We still got to do the preponderance of the restructuring, which we were going to do anyways. So it's — I would say no 'deal,' but at the end of the day a good deal for UTC," Hayes told the "Mad Money" host.
United Technologies is the parent company of furnace and air conditioner maker Carrier, which was under fire by Trump on the campaign trail because of its plans to move some manufacturing operations to Mexico from Indiana. Trump used Carrier as an example to highlight the decline of manufacturing in America.
Ultimately, United Technologies agreed to receive $7 million in tax credits from the State of Indiana, issued at $700,000 per year for 10 years. Carrier also agreed to invest approximately $16 million in its Indiana facilities, and will keep more than 1,000 people employed in Indianapolis.