Sikorsky Aircraft To Completely Blend with LockHeed Martin by 2016
BETHESDA, MD: Lockheed Martin successfully takes over Sikorsky Aircraft, manufacturers of military and commercial rotary-wing aircraft. The acquisition obeys customary conditions and secures regulatory approvals to end its independent existence by the 2016. Lockheed Martin assures that the business move does not monetarily impact on shareholders, still the share count is ought to be reduced to less than 300 million by the end of 2017.
A joint election will be held by Lockheed Martin and United Technologies Corporation under the Section 338(h)(10) of the Internal Revenue Code; which treats the purchase as a means of tax relaxation. The election will provide a tax benefit of 1.9 billion dollars for Lockheed Martin and its shareholders.
Sikorsky will now work together with Lockheed Martin Mission Systems and Training (MST) segment. It has already committed to take part in programs like VH-92 Presidential Helicopter, Combat Rescue Helicopter and the Naval MH-60 Helicopter.
Lockheed also investigates the influence of its government IT and technical services to plan on taking the Missile and Fire Control business segment to next level. Though the company is well-positioned for future, it intends to evaluate its IT and technical services against the market dynamics. The outcome of the strategic review may kick-start the incessant flow of revenue for shareholders.