Press Releases

February 24, 2009

  ABU DHABI, United Arab Emirates - Sikorsky Aerospace Services and the Mubadala Development Company today announced "the signing of a Heads of Agreement (HOA) to form a joint venture that will establish an aviation military Maintenance Repair and Overhaul (MRO) Center serving the United Emirates Armed Forces and other military aircraft throughout the Middle East and North Africa.  Mubadala is a leading business development and investment company headquartered in Abu Dhabi, United Arab Emirates.  Sikorsky Aircraft Corp. is a subsidiary of United Technologies Corp. (NYSE:UTX) and the parent of the Sikorsky Aerospace Services aftermarket business, which will have a leading role as a partner in the new venture.

The HOA signed at the IDEX defense exhibition outlines the companies' intent to establish the joint venture MRO Center in Abu Dhabi. The center will provide full logistics maintenance capabilities for the UAE Armed Forces' fixed and rotary wing aircraft, while developing market opportunities to support the military aviation industry throughout the region.

"This agreement marks a major step in development of the regions prominence as an aerospace leader and in Sikorsky Aerospace Service's mission to establish strategic partnerships in every region of the world where our customers operate," said David Adler, President of Sikorsky Aerospace Services. "Together with Mubadala, we intend to bring world-class, one-stop support and logistics maintenance capabilities to this region."

"Mubadala's strategy to help build a self sustaining and commercially viable support system for the UAE and regional military is in line with the global military trend of using sophisticated outsourced support services," said Waleed Al Mokarrab Al Muhairi, COO of Mubadala. "Our partnership with Sikorsky Aerospace Services fits our commercial strategy to evolve the Emirate of Abu Dhabi&'s existing aerospace industry into a global aerospace hub." 

As the manufacturer of BLACK HAWK and SEAHAWK® military helicopters, and S-76® and S-92® commercial helicopters, Sikorsky Aircraft products are prevalent in the Middle East and many other regions.  Sikorsky delivered 10 S-70A BLACK HAWK helicopters to the UAE in 2008. An additional 10 are scheduled for delivery this year, and 26 UH-60M helicopters are contracted for delivery in 2010 and 2011.

About Sikorsky Aerospace Services:

Sikorsky Aerospace Services provides comprehensive support to rotary and fixed wing aircraft around the world. It offers its military and commercial customers a full portfolio of support services through its aftermarket companies, Derco Aerospace, Inc., Helicopter Support, Inc., Sikorsky Aerospace Maintenance, Composite Technology, Inc., and Sikorsky Helitech.

Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture and service. The company’s mission statement reflects its long commitment to safety and innovation: "We pioneer flight solutions that bring people home everywhere ... every time^TM."  United Technologies Corp., based in Hartford, Conn., provides a broad range of high technology products and support services to the aerospace and building systems industries.

About Mubadala Development Company:

Mubadala Development Company (Mubadala) is a Public Joint Stock Company headquartered in Abu Dhabi, capital of the United Arab Emirates. Its focus is on developing and managing an extensive and economically diverse portfolio of commercial initiatives.  It does this either independently or in partnership with leading international organizations. Mubadala's commercial strategy is fundamentally built on long-term capital-intensive investments that deliver strong financial returns.

The company manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. Through its investment and development projects, Mubadala is both a catalyst for, and a reflection of, the drive for economic diversification of the Emirate of Abu Dhabi.  Its impact is evident domestically and internationally in sectors such as energy, aerospace, real estate, healthcare, technology, infrastructure, and services.

Mubadala's sole shareholder is the Government of the Emirate of Abu Dhabi.  For more information about Mubadala, its partnerships and activities please visit www.mubadala.ae.

This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in aircraft demand; 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.