Andrea's Feed
Jun 15, 2015

United Tech to exit Sikorsky helicopter business

PARIS, June 15 (Reuters) – United Technologies Corp
said on Monday it was exiting the helicopter business and would
decide by the end of the third quarter whether to spin off or
sell its $8 billion Sikorsky Aircraft unit, the largest provider
of helicopters to the U.S. military.

United Technologies said the decision to shed the
90-year-old Sikorsky unit came after a review of strategic
alternatives announced earlier this year and was subject to
final board approval.

Jun 14, 2015

Aerojet CEO vows to cut overhead, eyes 10 percent cut in workforce

PARIS (Reuters) – Eileen Drake, the new chief executive of Aerojet Rocketdyne Holdings Inc (AJRD.N: Quote, Profile, Research, Stock Buzz), on Sunday vowed to keep a “huge focus” on cutting overhead costs in coming years, including a 10-percent workforce reduction and possible facility closings.

Drake, a former Army helicopter pilot and executive with Pratt & Whitney, a unit of United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz), joined Aerojet Rocketdyne in March as its chief operating officer, just three days before the company announced a major cost-reduction drive and changed its name from GenCorp Inc.

Jun 14, 2015

Lockheed says rocket launch venture urgently needs U.S. law waiver

PARIS, June 14 (Reuters) – Lockheed Martin Corp
issued a warning on Sunday over prospects for its rocket launch
joint venture with Boeing Co, saying it urgently needed
the United States to waive a law banning the use of Russian
engines to launch military and spy satellites.

Rick Ambrose, who heads Lockheed’s space business, told
Reuters in an interview that concerns about the United Launch
Alliance (ULA) venture’s prospects had prompted the partners to
approve funding for its new U.S.-powered Vulcan rocket only one
quarter at time.

Jun 14, 2015

Pratt comfortable with progress on F-35 fighter jet engine

PARIS, June 14 (Reuters) – Engine maker Pratt & Whitney said
on Sunday it was “very comfortable” with progress on the F135
engine it builds for the Lockheed Martin Corp F-35
fighter jet, and expected to drive costs down further in the
next two batches of engines.

Mark Buongiorno, who heads Pratt’s work on the F135 engine,
said the company had submitted proposals for ninth and 10th
low-rate production contracts, and hoped to reach agreement with
the Pentagon before the end of the year. Pratt, a unit of United
Technologies Corp, has already delivered 228 engines to
the government, and the next two batches will add 160 engines.

Jun 14, 2015

Boeing eyes sale of remaining five C-17 transport planes before Q4

PARIS, June 14 (Reuters) – Boeing Co said on Sunday
it was in “deep discussions” with potential buyers for five
remaining C-17 cargo planes built before Boeing halted
production of the aircraft, and expected to sign purchase
agreements before the fourth quarter.

Chris Raymond, vice president of business development and
strategy for Boeing Defense, Space & Security, said the company
was discussing the sale of the aircraft with more than one
country, but declined to name them.

Jun 14, 2015

Pratt expects to resume ground testing of A320neo engine within week

PARIS, June 14 (Reuters) – Paul Adams, president of engine
maker Pratt & Whitney, said his company had a fix for a small
component that has grounded Airbus’s revamped A320neo
since last month, and expected to start ground certification
testing within a week.

Adams told Reuters the company had made a “very minor
modification” to the component, a clip inside the company’s
geared turbofan engine, and was already assembling engines with
the redesigned part.

Jun 14, 2015

Pratt says very comfortable with work on F-35 fighter jet engine

PARIS, June 14 (Reuters) – Engine maker Pratt & Whitney said
on Sunday it was “very comfortable” with progress on the F135
engine it builds for the Lockheed Martin Corp F-35
fighter jet, and expected to drive costs down further in the
next two batches of engines.

Mark Buongiorno, who heads Pratt’s work on the F135 engine,
said the company had submitted proposals for ninth and 10th
low-rate production contracts, and hoped to reach agreement with
the Pentagon before the end of the year. Pratt, a unit of United
Technologies Corp, has already delivered 228 engines to
the government, and the next two batches will add 160 aircraft.

Jun 14, 2015

Pratt expects to resume testing of A320neo engine within week

PARIS, June 14 (Reuters) – Paul Adams, president of engine
maker Pratt & Whitney, said his company had a fix for a small
component that has grounded Airbus’s revamped A320neo
since last month, and expected to start ground certification
testing within a week.

Adams told Reuters the company had made a “very minor
modification” to the component, a clip inside the company’s
geared turbofan engine, and was already assembling engines with
the redesigned part.

Jun 9, 2015

UTC to review Sikorsky options following offers

By Andrea Shalal, Mike Stone and Greg Roumeliotis

(Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) board of directors is scheduled to meet later this week to review options for its $8 billion Sikorsky aircraft business after receiving offers for it, people familiar with the matter said on Tuesday.

UTC is considering two potential tax-efficient transactions for Sikorsky: either a spin-off or a combination with peer Textron Inc (TXT.N: Quote, Profile, Research, Stock Buzz), which submitted an offer for Sikorsky earlier this month, the people said.

Jun 9, 2015

UTC to review Sikorsky options following offers -sources

June 9 (Reuters) – United Technologies Corp’s board
of directors is scheduled to meet later this week to review
options for its $8 billion Sikorsky aircraft business after
receiving offers for it, people familiar with the matter said on
Tuesday.

UTC is considering two potential tax-efficient transactions
for Sikorsky: either a spin-off or a combination with peer
Textron Inc, which submitted an offer for Sikorsky
earlier this month, the people said.