Mitsubishi Acquires Sikorsky Copters

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Sikorsky Aircraft Corp., a subsidiary of diversified business conglomerate United Technologies Corp. (UTX), recently procured a contract from Mitsubishi Corporation (MSBHY) to deliver 11 S-76D helicopters for Search and Rescue (SAR) operations of the Japan Coast Guard (:JCG).

Earlier in Oct 2012, Sikorsky had received the green flag from the Federal Aviation Administration (FAA) for S-76D helicopters. The helicopters are specially designed for SAR operations with flaw-tolerant main rotor blades; a fully integrated THALES glass cockpit; health and usage monitoring system; active vibration control; and powerful engines for the best-in-class power-to-weight ratio and fuel burn. Till date, Sikorsky has delivered over 800 S-76 helicopters to the global fleet for 6.2 million flight hours during three decades of operation.

Sikorsky is one of the world’s largest manufacturers of military and commercial helicopters. It also provides aftermarket helicopter and aircraft parts and services for its parent company United Technologies. At present, major production programs at Sikorsky include the UH-60M Black Hawk medium-transport helicopters and HH-60M Medevac helicopters for the U.S. and foreign governments, the S-70 Black Hawk for foreign governments, the MH-60S and MH-60R helicopters for the U.S. Navy, the International Naval Hawk for multiple naval missions, and the S-76 and S-92 helicopters for commercial operations.

Based in Hartford, Conn., United Technologies provides high-end technology products and services to the building systems and aerospace industries worldwide. The company is a diversified business conglomerate serving various end markets such as aerospace, defense and commercial construction. The business diversification allows the company to remain profitable during tough economic times.

The company’s operations are primarily classified into two principal businesses: commercial and aerospace. Under its commercial business, the company has Otis and the UTC Climate, Controls & Security division, which combined the former Carrier and UTC Fire & Security divisions. The aerospace business of the company consists of Sikorsky aircraft and the UTC Propulsion & Aerospace Systems, which includes UTC Aerospace Systems and Pratt & Whitney divisions.

United Technologies presently has a Zacks Rank #3 (Hold). Other notable companies in the industry include ITT Corporation (ITT) and Compass Diversified Holdings (CODI), each carrying a Zacks Rank #2 (Buy).

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