Monday, July 20, 2015

LM buying Sikorsky

Lockheed Martin has agreed to buy Sikorsky Aircraft, maker of the Black Hawk helicopters, from United Technologies Corp. for $9 billion, UTC and Lockheed Martin announced today. Reuters, citing two unnamed sources, first reported the sale Sunday. Lockheed Martin is already the largest military contractor, and this would further distance it from No. 2 Boeing. Lockheed Martin also builds the F-35. It will be Lockheed's largest acquisition since it bought Martin Marietta Corp. for about $10 billion two decades ago. (Sources: Reuters, 07/19/15, Hartford Courant, New York Times, 07/20/15) Gulf Coast note: Lockheed Martin and UTC both have operations in the Gulf Coast I-10 region.