Stratford helicopter manufacturer Sikorsky Aircraft Corp. announced it had modified its agreement to deliver Cyclone helicopters to Canada starting in 2015.
In making the deal, the Canadian Department of National Defense will retire its Sea King fleet starting in 2015 to make way for the Cyclone.
Financial terms of the deal were not disclosed.
Sikorsky is a subsidiary of Hartford conglomerate United Technologies Corp. Because of the agreement, Sikorsky will record $850 million in sales in the second quarter, along with a charge of $440 million. UTC does not anticipate this will impact its second quarter earnings per share.
