Lockheed Martin Corp. (NYSE: LMT) anticipates closing its acquisition of Sikorsky Aircraft Corp. on Friday.
The ministry of commerce of the People’s Republic of China has completed its regulatory review, marking the end of a “successful and comprehensive regulatory review process in eight jurisdictions,” Lockheed Martin said in a news release issued on Tuesday.
Lockheed Martin, a Bethesda, Maryland–based defense contractor, on July 20 announced it had agreed to acquire Sikorsky Aircraft for $9 billion.
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Sikorsky, which specializes in the design, manufacture, and service of military and commercial helicopters, is a subsidiary of United Technologies Corp. (NYSE: UTX), the parent company of Carrier Corp., which has operations in DeWitt.
Lockheed Martin plans to align Stratford, Connecticut–based Sikorsky under its mission systems and training (MST) business segment.
The MST unit has operations in both Salina in Onondaga County and Owego in Tioga County.
“With this final regulatory approval, we are one step closer to completing this historic acquisition,” Marillyn Hewson, chairman, president and CEO of Lockheed Martin, said in the company’s release. “Sikorsky brings a legacy of innovation and performance that perfectly complements Lockheed Martin’s portfolio. We are excited to soon welcome the men and women of Sikorsky to our team.”
Contact Reinhardt at ereinhardt@cnybj.com
