{"id":44706,"date":"2015-07-21T23:21:29","date_gmt":"2015-07-21T23:21:29","guid":{"rendered":"http:\/\/owegopennysaver.com\/?p=44706"},"modified":"2015-07-25T03:09:27","modified_gmt":"2015-07-25T03:09:27","slug":"lockheed-martin-to-acquire-sikorsky-aircraft","status":"publish","type":"post","link":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/","title":{"rendered":"Lockheed Martin to acquire Sikorsky Aircraft"},"content":{"rendered":"
\"Lockheed<\/a>

Pictured is Lockheed Martin Owego\u2019s Presidential Helicopter hangar that was built several years back when they were awarded the Marine One contract. The contract was later cancelled, but then re-awarded jointly to Sikorsky Aircraft as prime contractor, and Lockheed Martin as subcontractor. (File Photo \/ Wendy Post)<\/p><\/div>\n

According to a release received from Lockheed Corporate out of Bethesda, Md. on Monday, Lockheed Martin (NYSE: LMT) has entered into a definitive agreement to acquire Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, for $9.0 billion. The price is effectively reduced to approximately $7.1 billion, after taking into account tax benefits resulting from the transaction.<\/p>\n

\u201cSikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies,\u201d said Marillyn Hewson, Lockheed Martin chairman, president and CEO.<\/p>\n

She added, \u201cI\u2019m confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment. Together, we\u2019ll offer a strong portfolio of helicopter solutions to our global customers and accelerate the pace of innovation and new technology development.\u201d<\/p>\n

The acquisition is subject to customary conditions, including securing regulatory approvals, and is expected to close by late fourth quarter 2015 or early first quarter 2016. The transaction will have no impact on the company\u2019s previously stated commitments to return cash to shareholders through dividends and to reduce outstanding share count to below 300 million shares by the end of 2017.<\/p>\n

Lockheed Martin and United Technologies Corporation have agreed to make a joint election under Section 338(h)(10) of the Internal Revenue Code, which treats the transaction as an asset purchase for tax purposes.\u00a0The election generates a tax benefit with an estimated present value of $1.9 billion for Lockheed Martin and its shareholders.<\/p>\n

The Corporation plans to align Sikorsky under the Lockheed Martin Mission Systems and Training (MST) business segment. MST and Stratford, Conn., based Sikorsky currently partner on a number of critical programs, including the VH-92 Presidential Helicopter, Combat Rescue Helicopter and the Naval MH-60 Helicopter.<\/p>\n

Separately, Lockheed Martin will conduct a strategic review of alternatives for its government IT and technical services businesses, primarily in the Information Systems & Global Solutions business segment and a portion of the Missiles and Fire Control business segment. The programs to be reviewed represent roughly $6 billion in estimated 2015 annual sales and more than 17,000 employees.<\/p>\n

\u201cAs global security market dynamics shift, this review will strengthen our competitive posture, enabling sustained, profitable growth and positioning Lockheed Martin to deliver value for customers, shareholders and employees,\u201d Hewson said.<\/p>\n

Lockheed Martin is a leading IT and technical services provider around the globe, and with a series of recent wins in the U.S., Europe and Australia, the business is well positioned for the future. However, following recent shifts in market dynamics, Lockheed Martin will explore whether the businesses can achieve greater growth and create more value for customers and shareholders outside of the Corporation. The strategic review is expected to result in a spin-off to Lockheed Martin shareholders or sale of these components.<\/p>\n

The IS&GS programs that are not included in the strategic review are mostly focused on defense and intelligence customers and will be realigned into the Corporation\u2019s other four business segments following completion of the review.<\/p>\n

In Owego, N.Y., Lockheed Martin employs approximately 2,600. It was not known, at the time of this reporting, if work in Owego will be expanded, and jobs created.<\/p>\n

For more information and updates on the Sikorsky Aircraft acquisition, visit lockheedmartin.com\/sikorsky<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to a release received from Lockheed Corporate out of Bethesda, Md. on Monday, Lockheed Martin (NYSE: LMT) has entered into a definitive agreement to…<\/p>\n","protected":false},"author":3,"featured_media":44707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-44706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nLockheed Martin to acquire Sikorsky Aircraft - Owego Pennysaver Press<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lockheed Martin to acquire Sikorsky Aircraft - Owego Pennysaver Press\" \/>\n<meta property=\"og:description\" content=\"According to a release received from Lockheed Corporate out of Bethesda, Md. on Monday, Lockheed Martin (NYSE: LMT) has entered into a definitive agreement to...\" \/>\n<meta property=\"og:url\" content=\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/\" \/>\n<meta property=\"og:site_name\" content=\"Owego Pennysaver Press\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/The-Owego-Pennysaver-49179420591\/\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-21T23:21:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-07-25T03:09:27+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"490\" \/>\n\t<meta property=\"og:image:height\" content=\"368\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"opennysaver\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"opennysaver\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/\",\"url\":\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/\",\"name\":\"Lockheed Martin to acquire Sikorsky Aircraft - Owego Pennysaver Press\",\"isPartOf\":{\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#primaryimage\"},\"image\":{\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg\",\"datePublished\":\"2015-07-21T23:21:29+00:00\",\"dateModified\":\"2015-07-25T03:09:27+00:00\",\"author\":{\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/#\/schema\/person\/e90b97e3c9fe75a643c31b3439ed7b15\"},\"breadcrumb\":{\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#primaryimage\",\"url\":\"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg\",\"contentUrl\":\"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg\",\"width\":490,\"height\":368,\"caption\":\"Pictured is Lockheed Martin Owego\u2019s Presidential Helicopter hangar that was built several years back when they were awarded the Marine One contract. The contract was later cancelled, but then re-awarded jointly to Sikorsky Aircraft as prime contractor, and Lockheed Martin as subcontractor. (File Photo \/ Wendy Post)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/www.owegopennysaver.com\/PS\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lockheed Martin to acquire Sikorsky Aircraft\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/#website\",\"url\":\"http:\/\/www.owegopennysaver.com\/PS\/\",\"name\":\"Owego Pennysaver Press\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\/\/www.owegopennysaver.com\/PS\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/#\/schema\/person\/e90b97e3c9fe75a643c31b3439ed7b15\",\"name\":\"opennysaver\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\/\/www.owegopennysaver.com\/PS\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9bec4be7017247fe88bfa55f4162d3e4f733b538d1e5778a56aec357ba2765b7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9bec4be7017247fe88bfa55f4162d3e4f733b538d1e5778a56aec357ba2765b7?s=96&d=mm&r=g\",\"caption\":\"opennysaver\"},\"url\":\"http:\/\/www.owegopennysaver.com\/PS\/author\/opennysaver\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Lockheed Martin to acquire Sikorsky Aircraft - Owego Pennysaver Press","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/","og_locale":"en_US","og_type":"article","og_title":"Lockheed Martin to acquire Sikorsky Aircraft - Owego Pennysaver Press","og_description":"According to a release received from Lockheed Corporate out of Bethesda, Md. on Monday, Lockheed Martin (NYSE: LMT) has entered into a definitive agreement to...","og_url":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/","og_site_name":"Owego Pennysaver Press","article_publisher":"https:\/\/www.facebook.com\/The-Owego-Pennysaver-49179420591\/","article_published_time":"2015-07-21T23:21:29+00:00","article_modified_time":"2015-07-25T03:09:27+00:00","og_image":[{"width":490,"height":368,"url":"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg","type":"image\/jpeg"}],"author":"opennysaver","twitter_card":"summary_large_image","twitter_misc":{"Written by":"opennysaver","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/","url":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/","name":"Lockheed Martin to acquire Sikorsky Aircraft - Owego Pennysaver Press","isPartOf":{"@id":"http:\/\/www.owegopennysaver.com\/PS\/#website"},"primaryImageOfPage":{"@id":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#primaryimage"},"image":{"@id":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#primaryimage"},"thumbnailUrl":"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg","datePublished":"2015-07-21T23:21:29+00:00","dateModified":"2015-07-25T03:09:27+00:00","author":{"@id":"http:\/\/www.owegopennysaver.com\/PS\/#\/schema\/person\/e90b97e3c9fe75a643c31b3439ed7b15"},"breadcrumb":{"@id":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#primaryimage","url":"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg","contentUrl":"http:\/\/www.greenstreetdata.com\/PS\/owego\/files\/2015\/07\/Lockheed.jpg","width":490,"height":368,"caption":"Pictured is Lockheed Martin Owego\u2019s Presidential Helicopter hangar that was built several years back when they were awarded the Marine One contract. The contract was later cancelled, but then re-awarded jointly to Sikorsky Aircraft as prime contractor, and Lockheed Martin as subcontractor. (File Photo \/ Wendy Post)"},{"@type":"BreadcrumbList","@id":"http:\/\/www.owegopennysaver.com\/PS\/2015\/07\/21\/lockheed-martin-to-acquire-sikorsky-aircraft\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.owegopennysaver.com\/PS\/"},{"@type":"ListItem","position":2,"name":"Lockheed Martin to acquire Sikorsky Aircraft"}]},{"@type":"WebSite","@id":"http:\/\/www.owegopennysaver.com\/PS\/#website","url":"http:\/\/www.owegopennysaver.com\/PS\/","name":"Owego Pennysaver Press","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.owegopennysaver.com\/PS\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"http:\/\/www.owegopennysaver.com\/PS\/#\/schema\/person\/e90b97e3c9fe75a643c31b3439ed7b15","name":"opennysaver","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.owegopennysaver.com\/PS\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9bec4be7017247fe88bfa55f4162d3e4f733b538d1e5778a56aec357ba2765b7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9bec4be7017247fe88bfa55f4162d3e4f733b538d1e5778a56aec357ba2765b7?s=96&d=mm&r=g","caption":"opennysaver"},"url":"http:\/\/www.owegopennysaver.com\/PS\/author\/opennysaver\/"}]}},"_links":{"self":[{"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/posts\/44706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/comments?post=44706"}],"version-history":[{"count":0,"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/posts\/44706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/media\/44707"}],"wp:attachment":[{"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/media?parent=44706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/categories?post=44706"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.owegopennysaver.com\/PS\/wp-json\/wp\/v2\/tags?post=44706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}