Business Services Industry
Stratford, Conn.-based Sikorsky buying smaller aircraft company.
Knight Ridder/Tribune Business News, August, 2004
By Michael Remez, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Aug. 27--Sikorsky Aircraft announced Thursday it has reached agreement to buy Schweizer Aircraft Corp., a privately held company that makes light helicopters, reconnaissance aircraft and unmanned aerial vehicles.
Stratford-based Sikorsky did not reveal details of the deal, but Schweizer expects sales of about $45 million this year, a fraction of Sikorsky's more than $2 billion in revenue in 2003. Schweizer has about 420 workers at its plant in Elmira, N.Y.
Industry analysts said the deal, expected to be closed by the end of September, would broaden Sikorsky's product lines and boost opportunities in homeland security and unmanned flight, both for the...
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