Sikorsky Aircraft and Eclipse Aerospace Announce Equity Stake Agreement in Principle
ATLANTA, Oct. 20 /PRNewswire/ -- NBAA2010 CONVENTION, BOOTH 6667 -- Sikorsky Aircraft Corp. and Eclipse Aerospace, Inc. announced today an agreement in principle for Sikorsky to make an investment in Eclipse Aerospace Inc. Located in Albuquerque, New Mexico, Eclipse Aerospace provides engineering, service, and support for the fleet of 260 Eclipse 500 twin-engine jets. Sikorsky Aircraft, manufacturer of the BLACK HAWK helicopter and other iconic aircraft, is a subsidiary of United Technologies Corp. (NYSE: UTX).
"This agreement in principle affords us an opportunity to invest in a great product and to further leverage our strong aftermarket and product support capabilities for fixed-wing application," said Mark Cherry, Vice President of Strategy and Synergy for Sikorsky Aircraft Corp.
During the first 13 months of profitable operation, Eclipse Aerospace has made significant strides with continued upgrades to current Eclipse Twin-Engine Jet aircraft features and operational capabilities. In addition, Eclipse Aerospace has continued to rebrand its global supply chain and cultivate the existing and growing customer base to determine future market demand.
The Eclipse Twin-Engine Jet offers the benefits of an easy-to-operate, fuel efficient private jet to more people around the globe.
"We are elated about this potential new venture with Sikorsky Aircraft and the phenomenal reach we can extend to Eclipse Jet owners by access to the global service, support and supply chain network of Sikorsky," stated Mason Holland, Chairman and CEO of Eclipse Aerospace, Inc. "With the closing of this agreement we would have it all -- a phenomenal fuel efficient twin-engine jet, an enthusiastic customer base and a fantastic support staff, all coupled with the depth and strength of a sound and experienced partner, Sikorsky Aircraft!"
About Eclipse Aerospace, Inc.
Eclipse Aerospace, Inc. provides engineering, maintenance, service, and support for the fleet of 260 Eclipse Twin-Engine Jet aircraft. Adhering to the motto "Customer First," Eclipse Aerospace is focused on providing a superior customer experience for existing and future owners, operators and pilots of the revolutionary Eclipse Jet aircraft. Eclipse Aerospace corporate offices are based in Charleston, SC. Principle operations are located in Albuquerque, N.M. and Chicago, Ill. Eclipse Aerospace is located on the Web at www.eclipseaerospace.net.
About Sikorsky Aircraft Corp.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in aircraft design, manufacture and service. United Technologies Corp., based in Hartford, Conn., 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 investment in and potential production and sale of aircraft. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the signing of a final investment agreement, the results of a due diligence process and 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. www.sikorsky.com
SOURCE Sikorsky Aircraft Corp.