Sikorsky To buy Schweizer Aircraft

Sikorsky To Acquire Schweizer Aircraft

Aug. 26, 2004
- Extends Reach into Light Helicopter, Reconnaissance and Unmanned Aerial
Vehicle Markets.

STRATFORD, Conn.,- Sikorsky Aircraft Corp., a subsidiary of United
Technologies Corp. (NYSE: UTX), today announced an agreement to acquire
Schweizer Aircraft Corp., a privately owned U.S. company specializing in the
light helicopter, reconnaissance aircraft, and unmanned aerial vehicle (UAV)
markets.

"Schweizer Aircraft is a great strategic fit for Sikorsky, providing us with
proven leadership, a highly skilled and dedicated workforce, and immediate
access to the light helicopter and UAV markets," said Sikorsky President
Steve Finger. "Their ability for rapid prototyping makes them an excellent
choice for advanced concept evaluation and their high focus on product
safety aligns well with Sikorsky's own. Our mutual strengths, combined
competencies, and spectrum of aircraft and aftermarket services will create
new opportunities for the employees of both organizations and creates value
for our shareholders."

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http://www.sikorsky.com/details/0,30...TI1857,00.html