Lockheed Martin has the green light to complete its $9 billion acquisition of Sikorsky Aircraft from United Technologies Corp. by Friday, Nov. 6, Lockheed announced Tuesday. The last hurdle was getting approval from the Ministry of Commerce in China, where Sikorsky does business. “The completion of the regulatory review,” the company said, “marks the end of a successful and comprehensive regulatory review process in eight jurisdictions.” Lockheed Martin announced in July it would buy Sikorsky, maker of UH-60 Blackhawk, CH-53, and S-92 helicopters, among others. The cost of the acquisition will be a net $7 billion after tax benefits are counted. Lockheed Martin is already the Pentagon’s top contractor, but the company said the acquisition will expand “its core business into the growing areas of helicopter production and sustainment.” The Air Force selected Sikorsky’s HH-60W as its next Combat Rescue Helicopter, of which the service plans to buy 112. The acquisition further solidifies Lockheed Martin’s status as USAF’s top supplier, holding contracts on the F-35 fighter, C-130 Hercules transport, C-5M Super Galaxy upgrade, JASSM and JASSM-ER long-range stealth cruise missiles, and Paveway II guided bombs, as well as numerous electronics and support system programs.
Top Lawmakers Want 15 Percent Pay Raise for Enlisted Troops
April 19, 2024
A new law introduced by Congress would raise the pay rate 15 percent for junior enlisted troops and seek improvements on a range of quality of life issues, such as pay and compensation, child care, housing, health care access, and military spouse employment.