Sikorsky buys PZL...

Now isn't Sikorsky owned by United Technologies? Which bought
Schwiezer? Hmmm...

From Reuters:

Sikorsky Acquires Polish Aircraft Maker
Reuters News 01/10/2007

US helicopter maker Sikorsky said on Wednesday it has acquired
state-owned Polish aircraft maker PZL Mielec in a deal worth more than
PLN250
million zlotys (USD$83.3 million).

The deal includes the purchase of 100 percent of the company, a five
year investment plan and is debt-free, Sikorsky said. PZL Mielec is
Poland's biggest aircraft maker, with a work force of 1,500.

Sikorsky, a unit of United Technologies, said earlier this month it had

an agreement in principle to acquire Poland's largest aircraft maker.
But it gave no details. The company will produce a version of the Black

Hawk helicopter, the International Black Hawk, in Poland.

"Upon completing the acquisition, Sikorsky plans to modernize the
factory aggressively at PZL Mielec to support International Black Hawk
production," the company said in a statement.

International Black Hawk cabins will be made in Poland starting in
2008, Sikorsky President Jeffrey Pino told a news conference in Warsaw.

He said the factory would begin producing entire International Black
Hawk helicopters sometime in the next four years.

In July 2006, Sikorsky announced plans to develop an International
Black Hawk helicopter which is a variant for global customers that
would be
built with a global supply chain and delivered from outside the United
States.

United Technologies employs more than 7,000 people in aerospace and
construction in Poland, where a number of aerospace companies have
invested to take advantage of low costs of production and design
engineers.

An official at the treasury ministry said it would take two more months

to complete due diligence before the deal can go through.