Our Bureau
02:18 PM, July 10, 2015
3243

Lockheed Martin, Textron are major contenders to have offered to buy Sikorsky Aircraft.

The Stratford-based helicopter manufacturer could be valued at $8 billion and the decision for the sell-out is likely by the end of this month.

UTC would either sell or spin off Sikorsky, despite company winning two design competitions last year to produce helicopters for the White House and the US Air Force, Reuters quoted UTC as saying last month.

Textron makes Bell helicopters and Cessna aircraft. Lockheed is working with Sikorsky on a number of projects, including the presidential helicopter.

Sikorsky announced on June 2 that it would cut 1,400 positions globally over the next year, including 180 in Connecticut. The company also announced it would close its Bridgeport facility on South Avenue, bringing those several hundred jobs to its Stratford headquarters starting next year.

Also Read
Features
More..