HARTFORD, Conn.—United Technologies Corp. (UTC) has announced it will separate its troubled Sikorsky Aircraft business as it exits the helicopter business.
The Hartford, Conn.-based conglomerate says it will focus on high-technology systems and services to the aerospace and building industries. It says a decision on selling or spinning off Sikorsky will be made by the end of the third quarter.
Excluding Sikorsky, United Technologies expects 2015 sales of $58 billion to $59 billion.
United Technologies expects 10 cents to 20 cents per share of separation costs and a 10-cent per share decline in Sikorsky operations due to oil and gas market weakness.