Lockheed Martin Is Top Candidate to Buy Sikorsky Helicopter Unit

FORT LAUDERDALE, Fla. (Sun Sentinel/TNS) -

Competitor Lockheed Martin is the lead candidate to buy Sikorsky helicopter, in a deal valued at more than $8 billion, The Wall Street Journal reported.

Connecticut-based UTC said in June that it would spin off or sell Sikorsky. As a stand-alone company, Sikorsky would be a Fortune 500 company with $7 billion in sales.

In making the announcement in June, UTC President and CEO Gregory Hayes said that separating UTC and Sikorsky will allow the companies “to better focus on their core businesses.”

Sikorsky is best known for its Black Hawk helicopters for the military. In 2014, Sikorsky introduced the CH-53K, crowned the “King Stallion” by the Marine Corps at an event at Sikorsky in Palm Beach County. The helicopter is designed to carry 27,000 pounds – three times the load of the previous Sikorsky helicopter – enabling it to move troops and equipment from ship to shore and to higher altitude terrain more quickly and effectively than before.