Sikorsky To Acquire PZL Mielec

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Sikorsky Aircraft Corp. last week said it agreed to acquire Polish airframer PZL Mielec, that nation's largest fixed-wing aircraft manufacturer, with approximately 1,500 employees. Sikorsky, a subsidiary of United Technologies Corp., will acquire the entire company directly from the Polish government and said it will form the foundation of its European operations. The company is wholly owned by the Industrial Development Agency (known by the Polish acronym ARP), which is a government holding company under the Ministry of Treasury. "Sikorsky has taken a major step toward becoming a leading member of the European aerospace community," said Jeffrey Pino, Sikorsky's president. "This acquisition brings together two pioneering aerospace companies. Together, we will build on each others' strengths to create a world class aircraft manufacturer and service provider drawing upon Poland's great aerospace heritage and expertise."

Sikorsky's new company is based in the Polish city of Mielec. The transaction is subject to regulatory approval and pre-closing conditions. In 2006, Sikorsky announced plans to develop an International Black Hawk helicopter variant for global customers that would be manufactured using a global supply chain. Sikorsky said that, upon completing the acquisition, it plans to aggressively modernize PZL Mielec's factory and tooling in supporting international Black Hawk production. It will also continue PZL Mielec's current capability for aircraft design, manufacture, flight test and delivery. Sikorsky said its parent company, through its subsidiaries, currently employs more than 7,000 people in Poland in the aerospace and building systems industries. "This investment establishes PZL Mielec as a key component of Sikorsky's long-range global strategy to meet worldwide demand for its products and services," Pino added.