Sikorsky To Acquire Keystone Helicopter

AINalerts » November 1, 2005
February 8, 2007, 10:39 AM

Sikorsky Aircraft of Stratford, Conn., today announced an agreement to acquire Keystone Ranger Holdings, the privately owned parent of West Chester, Pa.-based Keystone Helicopter, an engineering, completion and technical support facility for the Sikorsky S-76 and other civil helicopters and aeromedical flight operations. As part of the transaction Sikorsky will also acquire Keystone rotor-blade and composite structure service subsidiary Composite Technology of Grand Prairie, Texas. The deal is expected to close before year-end. Terms of the acquisition were not disclosed. Officials said Keystone will continue to operate under its own name as a wholly owned subsidiary of Sikorsky. In conjunction with the acquisition, Pennsylvania Governor Edward Rendell announced that the state will provide $1.3 million to assist in Keystone Helicopter's $13 million expansion of its Coatesville, Pa., facility. Keystone is merging its West Chester operations into the Coatesville facility.

FILED UNDER: 
Share this...

Please Register

In order to leave comments you will now need to be a registered user. This change in policy is to protect our site from an increased number of spam comments. Additionally, in the near future you will be able to better manage your AIN subscriptions via this registration system. If you already have an account, click here to log in. Otherwise, click here to register.

 
X