Lockheed in talks to buy Sikorsky

GMT 22:02 2015 Friday ,10 July

Arab Today, arab today Lockheed in talks to buy Sikorsky

Sikorsky Seahawk helicopters
New York - AFP

Lockheed Martin is deep in talks to buy United Technologies's Sikorsky, maker of the iconic Blackhawk and the White House's Marine One helicopters, The Wall Street Journal reported Friday.

Citing sources close to the matter, the Journal said the sale could bring more than $8 billion to United Technologies. A deal could be reached in the coming days, it reported.

Last month United Technologies said it planned to either sell or spin off Sikorsky, which makes a broad range of military and commercial rotary-wing aircraft.

Splitting off the 90-year-old Sikorsky Aircraft would allow United Technologies to focus on its other businesses, which include building systems companies like Otis elevators, Pratt & Whitney engines, and other aircraft equipment and systems, the company said.

Sikorsky was founded in 1925 in New York by aviation pioneer Igor Sikorsky, an aeronautic engineer who left Russia for the United States after the Bolshevik revolution.

The company, which has more than 15,000 employees, reported sales of $7.5 billion and operating profits of $219 million last year.

Last year Sikorsky won a $1.2 billion contract to build the next generation of Marine One helicopters, and separately a key contract to supply combat rescue helicopters to the US Air Force.


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