Brahmand NewsPrevious Article
Brahmand NewsNext Article
Headlines

Lockheed Martin to buy rotorcraft maker Sikorsky

Line Spacing+- AFont Size+- Print This Article

BETHESDA, MARYLAND (BNS): US defence major Lockheed Martin has announced that it has entered into a "definitive agreement" to acquire rotorcraft maker Sikorsky Aircraft for US $9.0 billion.

The price is effectively reduced to approximately US $7.1 billion, after taking into account tax benefits resulting from the transaction.

"Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defence products and technologies.

"I'm confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment. Together, we'll offer a strong portfolio of helicopter solutions to our global customers and accelerate the pace of innovation and new technology development," Marillyn Hewson, Lockheed Martin chairman, president and CEO, said in an official statement on July 20.

The acquisition, subject to customary conditions, including securing regulatory approvals, is expected to close by late fourth quarter 2015 or early first quarter 2016.

Sikorsky is currently partnering Lockheed on a number of critical programmes, including the VH-92 Presidential Helicopter, Combat Rescue Helicopter and the Naval MH-60 Helicopter.

Line Spacing+- AFont Size+- Print Article

Other Related News

'Shaurya' successfully test fired

India on Saturday successfully test fired its indigenously developed nuclear capable hypersonic missile 'Shaurya' with a strike range of around 1,000 km from a test range in Odisha, defence sources said.

Upcoming Defence Exhibitions

BRAHMOS Missile Systems

Headlines

Brahmand World Defence Update 2020

Brahmand World Defence Update

Image Gallery