NEW YORK – Lockheed Martin is buying Black Hawk helicopter maker Sikorsky Aircraft for $9 billion.
Continue Reading Below
Lockheed Martin Corp. said Monday that it plans to add Sikorsky to its mission systems and training unit.
United Technologies Corp. announced in June that it planned to shed Sikorsky, either through a sale or spinoff. The aerospace and building systems conglomerate wants to focus on high-technology systems and services for the aerospace and building industries.
Aside from Black Hawk helicopters, Sikorsky makes presidential helicopters. Sikorsky helicopters have also returned astronauts home after they splashed down in the Pacific Ocean at the end of their space travels.
The deal is targeted to close by the end of the year or in 2016's first quarter.