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Tag Archives: United Technologies

Lockheed to Explore IT Business Separation, Inks $9B Deal for Helicopter Maker Sikorsky


Lockheed Martin (NYSE: LMT) will examine a potential separation of its government information technology and technical services business components and has agreed to purchase helicopter manufacturing business Sikorsky Aircraft from United Technologies Corp. for approximately $9 billion. Lockheed announced both moves Monday and said its IT business segment review will look at whether to spin off or ...

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Gregory Hayes: UTC to Decide on Sikorsky Spinoff or Sale Move in ‘Coming Weeks’

Gregory Hayes

United Technologies Corp. (NYSE: UTX) will leave the helicopter manufacturing business through a separation of its Sikorsky Aircraft business in a move UTC expects to complete by the end of its third quarter. “Over the coming weeks, we’ll determine whether a spinoff or direct sale is the best way to enhance Sikorsky’s long-term success ...

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Gregory Hayes Appointed UTC President, CEO

Gregory Hayes

Gregory Hayes, formerly senior vice president and chief financial officer at United Technologies Corp. (NYSE: UTX), has been appointed president and CEO of the aerospace technology conglomerate. UTC said Monday the appointment is effective immediately as Chairman and CEO Louis Chenevert has retired. Hayes held the SVP and CFO roles for six years in addition to his responsibility as ...

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India Plans $2.5B Purchase of Boeing Chinook, Apache Helicopters

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India has approved a deal to purchase Boeing-built (NYSE: BA) Chinook and Apache helicopters for approximately \$2.5 billion, Reuters reported Saturday. Nigam Prusty writes the purchase is part of Prime Minister Narendra Modi’s plan to bolster the nation’s military posture. The government also agreed on a proposal by the Indian navy to ...

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Sikorsky-Boeing Team to Develop Helicopter for US Army Demo Program; Mick Maurer Comments


Sikorsky Aircraft Corp. and Boeing (NYSE: BA) will jointly develop a helicopter for the first phase of the U.S. Army’s joint multi-role technology demonstrator program. The Sikorsky-Boeing team will continue its work to build the SB>1 Defiant medium-lift helicopter and configure it to Sikorsky’s X2 coaxial design, Sikorsky said Tuesday. Both ...

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Boeing-Sikorsky Team to Develop ‘Digital Backbone’ for Army Tech Demo Program; Samir Mehta Comments


Boeing (NYSE: BA) and a subsidiary of United Technologies (NYSE: UTX) have signed a technology investment agreement with the U.S. Army‘s Aviation Applied Technology Directorate to provide support for the Joint Multi-Role Technology Demonstrator program. The Boeing-Sikorsky Aircraft team will help to develop the Joint Common Architecture standard for the Army’s JMR TD program as part of the Future Vertical Lift ...

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Lockheed Expecting New USAF Contract for F-35 Jets; Orlando Carvalho Comments


Lockheed Martin (NYSE: LMT) is set to secure a deal to provide the U.S. government with 43 additional F-35 fighter aircraft, but with less price reductions compared to previous orders, Reuters reported Monday. Andrea Shalal reports a U.S. Air Force contract with Lockheed is expected before the end of June, according ...

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Vivek Saxena to Lead ICF Aerospace Supply Chain Work in VP Role; Sergio Ostria Comments

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Vivek Saxena, a former general manager at Pratt & Whitney, has joined ICF International (NASDAQ: ICFI) as a vice president for the consulting company’s SH&E business segment. The 20-year aerospace industry veteran will lead ICF’s work in the operations and supply chain fields for aviation and aerospace clients, the company ...

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Chris Hughes: BAE Wins $34M for the Navy’s Guided Projectile Project

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BAE Systems will work to develop and demonstrate a modular hypervelocity projectile under a $33.6 million contract awarded by the Office of Naval Research. The guided weapon will be designed to work with the Navy’s 127-inch and 155-mm gun systems and an electromagnetic railgun, BAE said Thursday. Chris Hughes, vice ...

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UTC Subsidiary Wins $65M For F-35 Propulsion System Maintenance


A United Technologies Corp. (NYSE: UTX) subsidiary has won a $64,999,589 contract modification to continue maintenance work on a propulsion system for the F-35 fighter jet. This modification covers a previously-awarded advance acquisition contract for lot six of low rate initial production, the U.S. Defense Department said Thursday. Purchasing details ...

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