Sikorsky President Unveils Four Pillars for Sikorsky's Future; Describes State of Sikorsky as "Robust"

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Sikorsky President Unveils Four Pillars for Sikorsky's Future; Describes State of Sikorsky as "Robust"

March 02, 2007

  ORLANDO, Florida - utcFollowing a record revenue year for the company, Sikorsky Aircraft President Jeffery Pino unveiled today at Heli-Expo the company's four pillars for its future: Growth, Excellence in Execution, Defining X2 TECHNOLOGYTM applications, and Globalization. Sikorsky Aircraft, a subsidiary of United Technologies Corp. (NYSE:UTX), had $3.2 billion in revenues in 2006.

Speaking about the company's recent growth at a press briefing, Pino said: "Thanks to the support of our customers worldwide, we are on track to double our revenues for the 2003 - 2008 timeframe, and given the projected strength in the military, commercial, and service and support markets, we expect this growth to continue. The number of products we have in production has grown from just three in 2000 to 10 today, with another six active development programs in work. We understand the need for excellence in execution, though, and are taking steps within our operations to leverage our internal capabilities and those of our supplier network to deliver on the product and support commitments that we have made to our customers."

With an eye to the future Pino discussed Sikorsky's X2 TECHNOLOGYTM program, which included a successful ground test of its demonstrator aircraft in November 2006. He also noted that Sikorsky's recent announcements regarding strategic business relationships in the Mid-east, Europe, and Asia underscore its objective of bolstering its leadership position in the global aerospace market.

"Although it is not without its challenges, I see a future that abounds with possibilities, and I am personally excited to be a part of the greatest industry on the globe. On behalf of the 13,000 men and women at Sikorsky Aircraft, I'd like to extend our appreciation to our customers for their continued confidence, and want them to know that we work every day to fulfill our mission," Pino said.

Sikorsky also announced a new company mission statement which has already begun to be incorporated into its communications. The new mission statement is:

"We pioneer flight solutions that bring people home everywhere... every timeTM.

"Our mission statement tells the story of our company, and is the focal point of all of our activities. It takes into account our proud history and bright future regarding innovation, satisfying the needs of our customers, and saving lives," Pino said.

Sikorsky Aircraft Corp., based in Stratford, Conn., USA, is a world leader in helicopter design, manufacturing, and service. United Technologies Corp., based in Hartford, Conn., USA, provides a broad range of high-technology products and support services to the aerospace and building systems.

This press release contains forward-looking statements concerning potential production and sale of helicopters. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices, budget plans or availability of funding or in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as 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.

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