United Technologies Corp. (UTC) announced
Wednesday that its Board of Directors has authorized a review of
strategic alternatives for the corporation's Sikorsky Aircraft
business, including a potential tax-free spinoff.
"We are exploring strategic options for Sikorsky to determine the best way to enhance its long-term success and create improved long-term value for UTC's customers and shareholders," said UTC President & Chief Executive Officer Gregory Hayes.
Sikorsky is a world leader in the design, manufacture and service of military and commercial helicopter platforms.
"Looking to the future, we are
evaluating whether Sikorsky's unique business as a rotorcraft OEM
with a predominately military customer base is best positioned as a
stand-alone company, and whether a separation would allow United
Technologies to better focus on providing high-technology systems and
services to the aerospace and building industries,” Hayes
said.
UTC expects to conclude its strategic review before the end of the year. However, no specific timetable has been set, and there can be no assurance that a spinoff or any other transaction will take place. Likewise, no decision has been made on the timing or terms of any such transaction if one were to occur.
United Technologies is based in Hartford, Conn.
UTC expects to conclude its strategic review before the end of the year. However, no specific timetable has been set, and there can be no assurance that a spinoff or any other transaction will take place. Likewise, no decision has been made on the timing or terms of any such transaction if one were to occur.
United Technologies is based in Hartford, Conn.
1 comment:
China will buy it.
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