United Technologies says weighing possible Sikorsky spinoff

HARTFORD, Conn. (AP) — United Technologies said Wednesday it is weighing options for its Sikorsky Aircraft division, including a possible spinoff of the maker of Black Hawk and other military and commercial helicopters.

The Hartford, Connecticut, company said it hasn’t set a timetable for any action regarding Sikorsky and that there’s no guarantee it will spin off the unit.

Sikorsky accounted for about $7.5 billion of United Technologies’ total sales of $65 billion last year. The conglomerate’s other divisions include jet engine manufacturer Pratt & Whitney and Otis elevator.

The company is looking into whether spinning off Sikorsky “would allow United Technologies to better focus on providing high-technology systems and services to the aerospace and building industries,” CEO Gregory Hayes said in a statement.

United Technologies said it will give further details on its plans for Sikorsky at its annual meeting with investors and analysts on Thursday.

Source Article from http://finance.yahoo.com/news/united-technologies-says-weighing-possible-011704931.html

This entry was posted in News & Info. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*