Lockheed finalizes $9B purchase of helicopter maker Sikorsky
STRATFORD, Conn. (AP) — Lockheed Martin has closed its acquisition of Black Hawk helicopter maker Sikorsky Aircraft.
Marillyn Hewson, chairwoman, president and CEO of the Maryland-based Lockheed Martin, announced completion of the $9 billion sale with United Technologies Corp. on Friday.
Hewson said Sikorsky will retain its Stratford, Connecticut, headquarters. The company employs nearly 15,000 workers in 11 countries and its helicopters are used by all five branches of the U.S. armed forces, as well as military in about 40 other nations.
Sikorsky accounted for $7.45 billion of United Technologies' $65.1 billion in revenue last year. But its military business fell when U.S. troops withdrew from Afghanistan and Iraq.
Falling oil prices also were a factor, with energy companies ferrying fewer workers to and from deep-water oil platforms.