Search Results for: Sikorsky

Sikorsky Awarded $940M Army Contract Modifications for Logistics, H-60 Technical Support

The U.S. Army has awarded Lockheed Martin (NYSE: LMT) unit Sikorsky two contract modifications worth almost $940 million combined to provide support services and technical support for H-60 military helicopters and associated weapon systems. One potential $833 million contract covers sustainment, engineering, provisioning, manpower and packaging, handling, storage and transportation services, the Defense …

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Lockheed Appoints Dan Schultz President of New Sikorsky Unit; Marillyn Hewson Comments

Dan Schultz, formerly vice president of Lockheed Martin‘s (NYSE: LMT) ship and aviation systems business, will serve as president of the company’s newly acquired Sikorsky helicopter business. Lockheed said Friday Schultz led Sikorsky’s integration into the Lockheed mission systems and training organization as the acquisition moved toward a close last week. “He …

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Lockheed Says Sikorsky Buy to Close Friday After China Clears Deal, All Regulatory Approvals Complete

China’s commerce ministry has cleared Lockheed Martin‘s (NYSE: LMT) estimated $9 billion purchase of the helicopter manufacturer Sikorsky Aircraft to mark the final regulatory approval required for the deal. Lockheed announced the review’s completion Tuesday and said it expects the transaction to close Nov. 6. The company needed approval from eight …

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Lockheed 3Q Earnings, Revenue Top Forecasts; Marillyn Hewson Updates IS&GS Review and Sikorsky Buy

Lockheed Martin (NYSE: LMT) — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported third quarter earnings of $2.77 per share, five cents higher than the consensus Wall Street estimate and one cent above EPS figures reported for the prior year period. Profit declined 2.6 percent …

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Sikorsky Lands $191M Navy Contract for Chopper Assembly Repairs

Sikorsky Aircraft will provide repair coverage for six CH-53 and MH-53 weapons replaceable assemblies under a $191.5 million firm-fixed-price, sole-source contract from the U.S. Navy. The Defense Department said Friday the company will perform work in Connecticut through December 2017. The Naval Supply Systems Command‘s weapon systems support division is the contracting activity, DoD added. …

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Reports: US Regulators OK Lockheed’s Sikorsky Acquisition

U.S. regulators have approved Lockheed Martin‘s (NYSE: LMT) $9 billion acquisition of United Technologies Corp.‘s (NYSE: UTX) Sikorsky Aircraft subsidiary, Reuters reported Thursday. Andrea Shalal writes that filings with the U.S. Securities and Exchange Commission indicate that U.S. officials, as well as regulators in Japan and South Korea, have approved the acquisition deal. …

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

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

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’

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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