UTC could sell off Sikorsky
United Technologies has said that it may sell Sikorsky Helicopter as part of a strategic review.
The company says that while the rest of its business has profit margins of 16 percent and is growing five to six percent annually, Sikorsky’s profit margin runs around 10 percent.
“As part of the portfolio review announced last December, we are exploring strategic options for Sikorsky to determining the best way to enhance its long-term success and create improved long-term value for UTC’s customers and shareholders.” said Gregory Hayes, CEO of United Technologies in a written statement.
Sikorsky has a $16 billion backlog with revenues of $7 billion in 2014.