The conglomerate United Technologies ( UTX ) announced Monday it would sell $ 9 billion for its subsidiary Sikorsky, which manufactures including the famous Marine One helicopter for the US presidency.
The purchaser is the US defense group Lockheed Martin, he said in a statement.
Sikorsky Aircraft, which manufactures the famous Black Hawk and Sea Hawk, has an essentially military customers, namely the Pentagon (Department of Defense).
This gives assured him substantial revenues for many years but cuts in military budgets coupled with rising new aircraft development costs have forced United Technologies to part.
In 2014, Sikorsky has achieved $ 7.5 billion in sales (+ 19% yoy), but operating profit was reduced by more than two.
“The acquisition of Sikorsky Lockheed Martin (…) is a guarantee that the company will remain a leader in terms of technology,” commented the CEO of United Technologies Gregory Hayes said in the statement.
The cash transaction is expected to close no later than the first quarter 2016.