UTC plans to sell or spin off Sikorsky helicopter unit
United Technologies Corp. said Monday that it plans to sell or spin off its Sikorsky Aircraft Corp. subsidiary, a helicopter manufacturer in northwestern Palm Beach County.
“Our strategic review has confirmed that exiting the helicopter business is the best path forward for United Technologies,” said Gregory Hayes, UTC President and CEO, in a news release.
Sikorsky, which shares a facility in Palm Beach County with UTC subsidiary Pratt & Whitney, is best known as the maker of the Black Hawk helicopter – a popular aircraft for the U.S. military. The company will discuss its intention to exit the helicopter business at its previously announced investor meeting during the Paris Air Show on June 15.
Sikorsky seeks incentives for $10M expansion
In 2011, Sikorsky sought $844,775 in county and state incentives for a $10.3 million expansion to its helicopter facility. As of Monday, Sikorsky had received $600,000 of the incentives, and invested about $2.4 million. No new jobs have been confirmed, according to state records.
UTC has been talking to potential buyers for Sikorsky, including Boeing Co., Airbus Group NV, and Lockheed Martin Corp., according to The Wall Street Journal.
Sikorsky has been a mainstay in Palm Beach with its development flight center at 17900 Beeline Highway.