United Technologies Corp. plans to sell or spin off its helicopter division, Sikorsky Aircraft, within 60 days.
This decision stems from a decline in helicopter demand, attributed to softening oil and gas prices and military budget cuts.
The divestiture is part of a broader trend of United Technologies offloading aviation assets, though it will retain key businesses like Pratt & Whitney.
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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