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Sikorsky Completes Keystone Acquisition

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Sikorsky Completes Keystone Acquisition

December 15, 2005

  Hartford, Connecticut - Sikorsky Aircraft Corporation today announced that it has completed the acquisition of Keystone Ranger Holdings, Inc., which specializes in full-service engineering, completion and technical support for commercial helicopters, and air medical flight operations. Sikorsky is a subsidiary of United Technologies Corporation. (NYSE:UTX).

Keystone, which had been privately owned, will be renamed Keystone Helicopter Holdings, Inc., and is now a wholly owned subsidiary of Sikorsky. It will continue to operate under the brand names of its subsidiaries, Keystone Helicopter Corporation and Composite Technology U.S.A., Inc. (CTI).

Keystone Helicopter specializes in full-service engineering, completion and technical support for commercial helicopters, and air medical flight operations. The firm operates a large technical services depot and completion center in Coatesville, Penn., and operates a large fleet of turbine helicopters in numerous locations across several eastern states, primarily in the air medical mission.

CTI is headquartered in Grand Prairie, Texas, with substantial rotor blade and composite structures overhaul capabilities there and at branch locations in Canada, Brazil, the U.K., and Singapore.

Keystone has done completion work on Sikorsky S-76 and S-92 helicopters for a broad range of missions including VIP, offshore oil, EMS, and multi-mission utility. In addition to Sikorsky, Keystone is and will continue to be factory-authorized by Bell, Eurocopter, and MD Helicopters, and will continue to service and complete Agusta products. The company is also an authorized dealer for virtually every major avionics manufacturer.

Sikorsky, based in Stratford, Conn., is a world leader in rotorcraft design, manufacturing and service. The company's 2004 revenues totaled $2.5 billion.

Sikorsky is a subsidiary of United Technologies Corporation of Hartford, Conn., which provides a broad range of high-technology products and support services to the aerospace and building systems industries. Sikorsky helicopters occupy a prominent international position in the intermediate to heavy range of 11,700 lb. (5,300 kg.) to 73,500 lb. (33,000 kg.) gross weight. The company's helicopters are used by all branches of the United States armed forces, along with military services and commercial operators in more than 40 nations.

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