[1] The traders already had business interest in India and Ghana prior to entering the Nigerian market.
In Nigeria, the firm grew through acquisitions and trading, establishing various divisions including Dorman Long Nigeria, UTC Foods, Almagamated Metal Containers, HF Schroeder and a motors division.
UTC was established in Nigerian in 1932 and was formerly registered as a limited liability company in 1968, it sold shares to the public in 1971.
[4] Beginning in the 1970s, Basler Handelsgesellschaft, a private Basel based Swiss holding company that owned controlling shares in UTC Plc, began to diversify their interest away from West Africa.
The firm diversified its engineering business in the 1990s to concentrate on food processing but by 2014 it was taken over by its creditors.