United weighing possible Sikorsky spinoff
Company said spinning off Sikorsky could allow it to focus on high-technology systems and services.
HARTFORD, Conn. — United Technologies said 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.
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