Sikorsky buys LifePort – First acquisition for new accessories business segment

Sikorsky buys LifePort – First acquisition for new accessories business segment 2 Jul, 10, Source: Sikorsky

SHELTON, Conn., Sikorsky Aerospace Services (SAS), the aftermarket division of Sikorsky Aircraft Corp., today announced the acquisition of LifePort, Inc., a Washington aircraft accessories manufacturer that specializes in air medical systems, lightweight armor, interior furnishings and EnfliteTM galley equipment for fixed and rotary wing aircraft. This acquisition establishes SAS’s new accessories business segment. Sikorsky Aircraft is a subsidiary of United Technologies Corp. (NYSE:UTX).

LifePort, which had been privately owned, will operate as “LifePort, a Sikorsky Aerospace Services Company,” retaining its current executive management team. In addition to its primary facility in Woodland, Washington, LifePort operates additional manufacturing facilities in Georgetown and Plano, Texas.

“LifePort has a history of designing, manufacturing, and supporting the highest quality aviation components available in the fixed and rotary wing industries,” said David Adler, President of Sikorsky Aerospace Services. “This acquisition illustrates and reaffirms our commitment to offer solutions that are tailored to fit each customer’s requirements. It is ‘one-stop shopping’ designed with an eye toward customer responsiveness and satisfaction.”

Bill Weaver, LifePort’s President and General Manager, said, “This acquisition will enhance LifePort’s ability to provide even more comprehensive, high quality solutions to our worldwide customer base through additional new products, expansion of existing product lines and enhanced levels of customer service. We are excited by how it can enable us to further develop our current team as well as tap into the aerospace expertise of Sikorsky Aerospace Services and United Technologies Corporation.”

Terms of the acquisition were not disclosed. LifePort’s revenues for 2009 were about $65 million.

Sikorsky Aerospace Services provides comprehensive support to rotary and fixed wing operators around the world. It offers its military and commercial customers a full portfolio of support services, including material distribution, maintenance, overhaul & repair, aircraft modifications and life-cycle support.

Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in aircraft design, manufacture and service. United Technologies Corp., based in Hartford, Conn., provides a broad range of high-technology products and support services to the aerospace and building systems industries.

This press release contains forward-looking statements concerning potential production, sale and support of helicopters. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices, budget plans or availability of funding or in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corporation’s Securities and Exchange Commission filings.

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