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Tag Archives: UTC

July 20 Market Close: GovCon Index, US Stocks Slightly Up as Investors Digest Earnings

GovConIndexUP

The GovCon Index closed in neutral territory Monday with a nominal gain of 0.040 points to 77.143. Lockheed Martin‘s (NYSE: LMT) stock price jumped nearly 2 percent after the company said it would examine a separation of its information technology and technical services business and its agreement to purchase helicopter manufacturer Sikorsky Aircraft from United ...

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Lockheed Reports 2% Sales Bump for 2Q, Profit Up 4%

lockheed martin

Lockheed Martin (NYSE: LMT) has reported a 2.6 percent year-over-year increase in revenue to $11.6 billion for its fiscal year 2015 second quarter, which ended June 28, and a 4.5-percent increase in profit to $929 million for that same time frame. Sales in the company’s aeronautics, missiles and fire control, and mission systems and training segments ...

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Wall Street Journal: UTC, Lockheed in Advanced Talks for Potential $8B Deal on Sikorsky

acquisition

United Technologies Corp. (NYSE: UTX) and Lockheed Martin (NYSE: LMT) are nearing a potential deal for the sale of UTC’s Sikorsky Aircraft business to Lockheed for at least $8 billion, the Wall Street Journal reported Friday. Dana Mattioli, Ted Mann and Doug Cameron write that the proposed acquisition would be ...

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Reuters: Lockheed, Textron Final Bidders for UTC’s Sikorsky Helicopter Arm

Helicopter Radar

United Technologies (NYSE: UTX) is mulling offers from Lockheed Martin (NYSE: LMT) and Textron (NYSE: TXT) to purchase UTC’s Sikorsky Aircraft subsidiary, Reuters reported Wednesday. Andrea Shalal and Mike Stone write UTC may reach a decision on the offers by the end of the month or could decide instead on a tax-free spinoff ...

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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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Reuters: Textron Interested in Merger With Sikorsky

CH53KChopper

United Technologies Corp.‘s (NYSE: UTX) Sikorsky Aircraft subsidiary received a merger offer from Textron (NYSE: TXT) earlier this month, Reuters reported Tuesday. Reuters cites unnamed sources that say UTC is in the process of examining whether to spin off Sikorsky or merge the business with Textron through a tax-free transaction. ...

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Robert Leduc to Succeed Mick Maurer as President of UTC’s Sikorsky Biz; Gregory Hayes Comments

UTClogo

Robert Leduc, a 35-year veteran at United Technologies (NYSE: UTX), has been named president of UTC’s Sikorsky Aircraft subsidiary. He will succeed Mick Maurer, who has been appointed as UTC senior vice president of strategic projects, the company said Thursday. Both Leduc and Maurer will report to Gregory Hayes, UTC president ...

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David Gitlin Named UTC Subsidiary’s Aircraft Systems President; Alain Bellemare Comments

UTClogo

David Gitlin, a 17-year veteran of United Technologies Corp. (NYSE: UTX), has been promoted to president of the aircraft systems business unit within UTC Aerospace Systems, a subsidiary of UTC. Gitlin previously served senior vice president of aircraft systems since UTC Aerospace Systems first launched in 2012, UTC said Thursday. ...

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

UTClogo

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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AF Awards $684M Engine Tech Program IDIQ to GE, UTC

The U.S. Air Force has awarded positions on a a potential $684 million engine technology development contract to General Electric-Aviation (NYSE: GE) and United Technologies (NYSE: UTX). GE Aviation won $349,747,900 and UTC won $335,048,342 in funding, according to a Defense Department release. This potential four-year indefinite-delivery/indefinite-quantity task order contract ...

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