Mayor Says Sikorsky is Staying in Stratford Despite Spin-Off Talk

While last week’s announcement that United Technologies, the owner of Sikorsky Aircraft, is discussing “strategic alternatives” for Sikorsky, including potentially spinning off the company onto its own, caused some concern, Stratford Mayor John A. Harkins said he’s received assurances that the company is staying in town.

“Sikorsky Aircraft has a long, storied history in our community,” Harkins said in a statement. “Regardless of any potential changes in the ownership structure now being considered, my administration has been assured by Sikorsky leadership that the company will remain in Stratford. I look forward to continuing our close relationship with Sikorsky for decades to come.”

UTC President & Chief Executive Officer Gregory Hayes in a press release last week that the company is “exploring strategic options for Sikorsky to determine the best way to enhance its long-term success and create improved long-term value for UTC’s customers and shareholders.”

The spinoff would allow United Technologies to focus on other aerospace and building industry endeavors.

The review of what to do with Sikorsky is expected to conclude by the end of the year, but no concrete timetable has been set.

If Sikorsky is spun off on its own, it would likely create more jobs because they will need to replace the support from UTC, according to Harkins.

Sikorsky has invested $6.7 million on infrastructure in 2014 and $2.9 million so far in 2015.

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