UTC Boss: Sikorsky No Longer a Good Fit: United Technologies is considering spinning off its Sikorsky subsidiary after concluding the helicopter manufacturer is no longer a fit for the company.
Greg Hayes, UTC's president and CEO, told an investor conference Thursday that the company is exploring options for divesting Sikorsky, the largest manufacturer of military helicopters in the US.
Sikorsky is "just not quite as attractive as the rest of the businesses," Hayes said, noting the subsidiary's role "as a platform provider, as opposed to a system provider, differentiates Sikorsky from the rest of the portfolio."
Hayes called the decision "not an easy one," but called it "the right one for Sikorsky's customers, for Sikorsky's employees, and for our shareholders."
In January 2014, Defense News reported that UTC was eyeing the sale of Sikorsky, best known for its popular Black Hawk helicopter line. UTC also owns aircraft engine maker Pratt & Whitney and UTC Aerospace Systems.
