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Sikorsky for sale in two months’ time ?

Published on 10/06/2015 14:00 - By

The American group, United Technologies Corporation (UTC), may well divest themselves of their subsidiary Sikorsky, whose famous Black Hawk is used by the US military. Akhil Johri, Chief Financial Officer and Senior Vice President of UTC, has announced that a decision as to whether to ‘‘spin or sell’’ will be made within the "next couple of months".

This announcement comes as the US helicopter manufacturer puts the blame on a sharp drop in demand in the oil and gas sectors, and a decline of their overseas sales. At the beginning of June, Sikorsky also announced the elimination of 1,400 jobs over the next twelve months, being almost 10% of its workforce, which will affect sites in the US and Poland.

Sikorsky’s parent company, UTC, announced last month that discussions are underway with potential buyers. Boeing, Airbus Helicopters, Lockheed Martin and Textron (Bell helicopters) could well be in the running, although this is not totally certain because when contacted, those concerned did not confirm the information. Airbus Helicopters "is looking" at the possibility, even if it is unlikely that a Pentagon supplier would be allowed to be sold off to a foreign company. For its part, Boeing has "no comment." In the case of a sale, the bill could be heavy, with the buyer having to pay three billion dollars to the American IRS, with an additional ten billion up front, even before acquiring the helicopter manufacturer.

The Sikorsky company, founded in the 20’s by Igor Sikorsky, a Ukrainian American engineer, achieved a turnover of 7.5 billion dollars in 2014. According to a company spokesperson, no Sikorsky helicopter will be exhibited at the Paris Air Show, which opens its doors to trade visitors on 15 June.

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