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Tag Archives: united technologies corp

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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Reuters: Textron Interested in Merger With Sikorsky

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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Eileen Drake Named Aerojet Rocketdyne CEO; Warren Lichtenstein Comments

Eileen Drake, formerly chief operating officer at Aerojet Rocketdyne (NYSE: AJRD), has been appointed succeed Scott Seymour as the rocket and missile propulsion maker’s president and CEO. Aerojet Rocketdyne said Monday Drake will also become a member of the GenCorp subsidiary’s board of directors following Seymour’s retirement. Warren Lichtenstein, chairman of Aerojet Rocketdyne’s board of …

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Report: UTC in Talks With Potential Sikorsky Buyers

United Technologies Corp. (NYSE: UTX) has begun discussions with other companies about a potential sale of UTC’s Sikorsky Aircraft subsidiary, the Wall Street Journal reported Tuesday. Citing several sources, Dana Mattioli and Ted Mann write that Airbus Group, Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) are considering making offers …

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Gregory Hayes: UTC to Mull Sikorsky Aircraft Spinoff

United Technologies Corp. (NYSE: UTX) is eyeing a potential spinoff of UTC subsidiary Sikorsky Aircraft as part of a strategic review into the helicopter manufacturing business. “As part of the portfolio review announced last December, we are exploring strategic options for Sikorsky to determine the best way to enhance its …

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UTC Subsidiary to Redesign USAF Aircraft Engine Components for $407M

A United Technologies Corp. (NYSE: UTX) subsidiary has received a potential $407 million contract to support the U.S. Air Force‘s aircraft engine component modernization efforts. The Defense Department said Wednesday that Pratt & Whitney will help redesign, analyze, test and manage engines for the military service and DoD expects the company …

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

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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Paul Adams to Succeed David Hess as Pratt & Whitney President; Alain Bellemare Comments

Paul Adams, chief operating officer at United Technologies Corp. (NYSE: UTX) subsidiary Pratt & Whitney, will lead the subsidiary as president starting on Jan. 1, 2014. Adams will succeed the retiring David Hess, a 34-year veteran of UTC who has led Pratt & Whitney since 2009, UTC said Tuesday. Alain Bellemare, president and …

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Report: Sikorsky Wins $7.3B Black Hawk Helicopter Deal

United Technologies Corp. (NYSE:UTX) subsidiary Sikorsky Aircraft will provide the U.S. Army, Navy, and Air Force with UH-60 Black Hawk helicopters for the next five years, Reuters reports. The report indicates the $7.3 billion deal is the Defense Department’s eighth multi-year procurement of the “workhorse” helicopters and includes options that could add …

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Harris Names William Brown President and CEO, effective Nov. 1

Harris Corp.’s (NYSE: HRS) board of directors has appointed William M. Brown president and chief executive officer, effective Nov. 1, 2011. Brown will succeed Howard L. Lance, who has served as CEO since January 2003 and in May announced he would retire when a successor had been chosen. Lance, 55, will continue to …

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