BETHESDA, Md., Nov. 3, 2015 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) has received the final regulatory approval needed to close its acquisition of Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, from United Technologies Corp. The completion of the regulatory review by the Ministry of Commerce of the People's Republic of China marks the end of a successful and comprehensive regulatory review process in eight jurisdictions.
"With this final regulatory approval, we are one step closer to completing this historic acquisition," said Marillyn Hewson, Lockheed Martin chairman, president and CEO. "Sikorsky brings a legacy of innovation and performance that perfectly complements Lockheed Martin's portfolio. We are excited to soon welcome the men and women of Sikorsky to our team."
Lockheed Martin anticipates closing the acquisition on Friday, Nov. 6.
Once completed, the acquisition of Sikorsky Aircraft will advance Lockheed Martin's commitment to provide its customers with mission-ready solutions that are affordable and efficient, while expanding its core business into the growing areas of helicopter production and sustainment.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2014 were $45.6 billion.
Forward Looking Statements
This release contains statements which, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, including, among other things, statements regarding the timing of the closing of the acquisition of Sikorsky Aircraft (the "Transaction") and the future impact of Sikorsky on the Corporation's business. Forward-looking statements are based on Lockheed Martin's current expectations. There can be no assurance that future events will occur as anticipated and forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties including the mechanics of closing a complex transaction of this magnitude, the successful integration of the business and economic and customer developments generally. For a discussion identifying important factors that could cause actual results to vary materially from those anticipated in the forward-looking statements, see the Corporation's filings with the SEC including, but not limited to, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the Corporation's Annual Report on Form 10-K for the year ended Dec. 31, 2014 and quarterly reports on Form 10-Q. The Corporation's filings may be accessed through the Investor Relations page of its website, www.lockheedmartin.com/investor, or through the website maintained by the SEC at www.sec.gov. Except where required by applicable law, the Corporation expressly disclaims a duty to provide updates to forward-looking statements after the date of this release to reflect subsequent events, changed circumstances, changes in expectations, or the estimates and assumptions associated with them. The forward-looking statements in this release are intended to be subject to the safe harbor protection provided by the federal securities laws.