Sikorsky Aircraft Corporation, a subsidiary of United Technologies Corp. (UTX), recently announced that Milestone Aviation Group has placed an order for additional eight units of the S-92 helicopters.
With this announcement, Milestone's orders for the S-92 helicopters have reached 37 totaling over $1.2 billion. Out of this, 15 aircrafts are scheduled to be delivered by 2015 and the balance over a period of 5 years.
Introduced in 2004, the twin-engine S-92 is one of the world's leading and most versatile helicopters servicing a wide range of sectors such as oil and gas, search-and-rescue missions, emergency medical services, Head of State missions and other transportation services. Milestone's fleet currently includes 73 Sikorsky aircrafts, including 45 S-92 and 28 S-76 family aircrafts. The helicopters under the new order will be leased to operators all over the world and will serve various sectors.
Sikorsky has already supplied over 200 S-92 helicopters to various customers worldwide. S-92 helicopters have a proven track record of serving in difficult conditions, especially in the offshore oil sector. This order further enhances Sikorsky's position as one of the largest helicopter manufacturers in the world and also establishes Milestone as one of its largest customers. Sikorsky also provides aftermarket helicopter and aircraft parts and services for its parent company, United Technologies.
Based in Hartford, CT, United Technologies provides high-end technology products and services to 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 amid tough economic times.
United Technologies currently carries a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Hutchison Whampoa Ltd (HUWHY), 3M Co. (MMM) and Marubeni Corp. (MARUY), each holding a Zacks Rank #2 (Buy).