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United Technologies announces exit from helicopter business

Workers walk outside of Sikorsky Aircraft, in Stratford, Conn., in this March 2009 photo. United Technologies Corp. has announced it will separate the Sikorksy Aircraft business as it exits the helicopter business.
Workers walk outside of Sikorsky Aircraft, in Stratford, Conn., in this March 2009 photo. United Technologies Corp. has announced it will separate the Sikorksy Aircraft business as it exits the helicopter business. AP

United Technologies Corp. has announced it will separate its Connecticut-based Sikorksy Aircraft business as it exits the helicopter business.

The Hartford conglomerate says it will focus on high-technology systems and services to the aerospace and building industries. It says a decision on selling or spinning off Sikorsky will be made by the end of the third quarter.

United Technologies has previously said Sikorsky didn’t fit with plans for long-term growth.

Excluding Sikorsky, United Technologies expects 2015 earnings per share of $6.35 to $6.55 on sales of $58 to $59 billion. With Sikorsky, earnings per share are expected at $6.55 to $6.85, from $6.85 to $7.05.

United Technologies expects 10 cents to 20 cents per share of separation costs and a 10-cent per share decline in Sikorsky operations due to oil and gas market weakness.

The aerospace and building systems company employs about 300 at its UTC Aerospace Systems headquarters in Charlotte, and about 200 in Monroe.

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