Lockheed Martin Corp is deep in talks to buy United Technologies Corp’s Sikorsky, maker of the iconic Blackhawk and the US White House’s Marine One helicopters, The Wall Street Journal reported on Friday.
Citing sources close to the matter, the Journal said the sale could bring more than US$8 billion to United Technologies. A deal could be reached in the coming days, it reported. The discussions could still fall apart, it added.
United Technologies said in March that it planned to sell or spin off the maker of Black Hawk helicopters, which the company has owned for almost 90 years.
United Technologies chief executive officer Gregory Hayes said last month that a decision on a sale versus a spinoff could come as soon as the end of this month.
Splitting off the 90-year-old Sikorsky Aircraft would allow United Technologies to focus on its other businesses, which include building systems companies like Otis elevators, Pratt & Whitney engines and other aircraft equipment and systems, the Hartford, Connecticut-based company said.
Lockheed and Textron Inc were identified as finalists to buy Sikorsky in a report on Wednesday by Reuters, which cited unidentified people familiar with the matter.
Sikorsky was founded in 1925 in New York by aviation pioneer Igor Sikorsky, an aeronautic engineer who left Russia for the US after the Bolshevik revolution.
The company reported sales of US$7.5 billion and operating profits of US$219 million last year.
Last year Sikorsky won a US$1.2 billion contract to build the next generation of Marine One helicopters and separately a key contract to supply combat rescue helicopters to the US Air Force.
CAUTIOUS RECOVERY: While the manufacturing sector returned to growth amid the US-China trade truce, firms remain wary as uncertainty clouds the outlook, the CIER said The local manufacturing sector returned to expansion last month, as the official purchasing managers’ index (PMI) rose 2.1 points to 51.0, driven by a temporary easing in US-China trade tensions, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The PMI gauges the health of the manufacturing industry, with readings above 50 indicating expansion and those below 50 signaling contraction. “Firms are not as pessimistic as they were in April, but they remain far from optimistic,” CIER president Lien Hsien-ming (連賢明) said at a news conference. The full impact of US tariff decisions is unlikely to become clear until later this month
With an approval rating of just two percent, Peruvian President Dina Boluarte might be the world’s most unpopular leader, according to pollsters. Protests greeted her rise to power 29 months ago, and have marked her entire term — joined by assorted scandals, investigations, controversies and a surge in gang violence. The 63-year-old is the target of a dozen probes, including for her alleged failure to declare gifts of luxury jewels and watches, a scandal inevitably dubbed “Rolexgate.” She is also under the microscope for a two-week undeclared absence for nose surgery — which she insists was medical, not cosmetic — and is
GROWING CONCERN: Some senior Trump administration officials opposed the UAE expansion over fears that another TSMC project could jeopardize its US investment Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is evaluating building an advanced production facility in the United Arab Emirates (UAE) and has discussed the possibility with officials in US President Donald Trump’s administration, people familiar with the matter said, in a potentially major bet on the Middle East that would only come to fruition with Washington’s approval. The company has had multiple meetings in the past few months with US Special Envoy to the Middle East Steve Witkoff and officials from MGX, an influential investment vehicle overseen by the UAE president’s brother, the people said. The conversations are a continuation of talks that
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in artificial-intelligence (AI) chips, yesterday said that small-volume production of 3-nanometer (nm) chips for a key customer is on track to start by the end of this year, dismissing speculation about delays in producing advanced chips. As Alchip is transitioning from 7-nanometer and 5-nanometer process technology to 3 nanometers, investors and shareholders have been closely monitoring whether the company is navigating through such transition smoothly. “We are proceeding well in [building] this generation [of chips]. It appears to me that no revision will be required. We have achieved success in designing
RSS