Lockheed Martin a finalist for Sikorsky Aircraft purchase
Lockheed Martin Corp. (NYSE: LMT) and Textron Inc. (NYSE: TXT) are the finalists to purchase Sikorsky Aircraft, the makers of the Black Hawk helicopter, from United Technologies Corp. (NYSE: UTX), according to a Reuters report.
In June, Connecticut-based UTC announced it would either sell or spin off Sikorsky, allowing both companies to focus on their core businesses.
Sikorsky said at that time that it would lay off 720 people in its Coatesville, Pa. facility due to sustained decreases in oil prices, which curtailed demand for its helicopters from oil companies who use them for offshore exploration projects.
Before the announced job cuts last month, Sikorsky had experienced rapid job growth, growing in Coatesville from about 700 employees in 2010 to about 1,800 last summer.
The company said in May 2014 that it bought the Coatesville 28-acre campus, which includes a 214,000-square-foot building known as the Heliplex, for $17.9 million, after winning a $1.24 billion bid to assemble the next fleet of six presidential “Marine One” helicopters at the Chester County facility. Sikorsky has built the Marine One helicopters since the 1950s.
Last August, Sikorsky received a $2.5 million state grant to build a tunnel under Washington Lane in Coatesville that will connect its facility with Chester County Airport.