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.
There appears to be no shortage of possible buyers for Sikorsky, with analysts saying the list of potential suitors could include Airbus Helicopters, Textron Boeing and others. Sikorsky also owns one subsidiary, Poland’s PZL Mielec.
United Technologies has been offloading portions of its aviation portfolio of late, shutting down the Schweizer Helicopter factory and selling its stake in Eclipse Aerospace to the newly formed One Aviation.
UTC still owns engine maker Pratt & Whitney and UTC Aerospace systems, a combination of the former Goodrich Corp. and Hamilton Sundstrand.
Get exclusive online content like this delivered straight to your inbox by signing up for our free enewsletter.