SHANGHAI, China, Jan. 31 /PRNewswire/ -- AVIC II, through its subsidiaries
Changhe Aircraft Industries Corporation and Shanghai Xinsheng Aviation
Industry Investment and Development Company, today announced it is joining
Shanghai Sikorsky as a shareholder. Shanghai Sikorsky is a civil aerospace
joint venture company whose other shareholders are Sikorsky Aircraft Corp. and
Shanghai Little Eagle. Sikorsky Aircraft is a subsidiary of United
Technologies Corp. (NYSE: UTX).
(Logo: http://www.newscom.com/cgi-bin/prnh/20060403/SIKORSKYLOGO )
Shanghai Sikorsky, established in 2003 by Sikorsky and Shanghai Little
Eagle, focuses on nurturing the Chinese civil helicopter market and serving
its growing vertical lift needs. The venture's business includes civil
helicopter sales and support, including services and training, and general
aviation services. With Changhe and Xinsheng becoming shareholders, Shanghai
Sikorsky will soon expand its business to provide supply chain management
services and to serve both Sikorsky's and Changhe's civil fleet in China.
Sikorsky's business relationship with AVIC II dates back more than a
decade to the development and production of the S-92(R) helicopter. In June
2006, Sikorsky and AVIC II furthered their business relationship and announced
a Memorandum of Understanding (MOU) for collaboration on development and
manufacture of civil helicopters. In October 2006, Schweizer signed an
agreement for S-300(TM) helicopter subcontract production with Changhe, and in
July 2007 Sikorsky announced an S-76(R) helicopter airframe production
collaboration with Changhe.
"Our increasing partnership with AVIC II demonstrates Sikorsky's
commitment to, and confidence in, our partners and the Chinese aviation
market. Shanghai Sikorsky, leveraging the support of Changhe, Xinsheng, Little
Eagle and Sikorsky, lays the foundation for Chinese market expansion," said
Carey Bond, Sikorsky vice president for corporate strategy.
Schweizer S-300 helicopters are used worldwide for training,
transportation, power-line patrol and many other missions. Both the Sikorsky
S-76 and S-92 helicopters are market leaders in their weight classes in
offshore oil, head of state, VIP, search and rescue, and commercial
transportation.
"Demand for S-300, S-76 and S-92 helicopters remains strong. This latest
teaming with AVIC II will enable us to offer premier helicopter support and
services in China to better meet customer requirements and provide additional
customer value," said Bond.
Sikorsky Aircraft Corporation, based in Stratford, Connecticut, USA, is a
world leader in helicopter design, manufacturing and service. The company's
mission statement reflects its long commitment to safety and innovation: "We
pioneer flight solutions that bring people home everywhere ... every
time(TM)." United Technologies Corp., based in Hartford, Connecticut, USA,
provides a broad range of high technology products and support services to the
aerospace and building systems industries.
This press release contains forward-looking statements concerning future
business opportunities. Actual results may differ materially from those
projected as a result of certain risks and uncertainties, including but not
limited to changes in aircraft demand; challenges in the design, development,
production and support of advanced technologies; as well as other risks and
uncertainties, including but not limited to those detailed from time to time
in United Technologies Corporation's Securities and Exchange Commission
filings.
SOURCE Sikorsky Aircraft