United Technologies Corp. (UTC) plans to sell or spin off its helicopter division, Sikorsky Aircraft, within the next 60 days.
The decision is driven by a softening demand for helicopters, attributed to falling prices in the oil and gas sector and military budget cuts.
Several companies, including Airbus Helicopters, Textron, and Boeing, are considered potential buyers for Sikorsky, which also owns Polish subsidiary PZL Mielec.
This move aligns with UTC's recent strategy of offloading parts of its aviation portfolio, though it retains engine maker Pratt & Whitney and UTC Aerospace systems.
United Technologies Corp. said it plans to sell or spin off helicopter maker Sikorsky Aircraft, maker of the S-76, S-92 and Black Hawk series, within the next 60 days.
The plan to sell or split the storied company comes as demand for helicopters has softened with falling prices in the oil and gas sector and military budget cuts.
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