Sikorsky Aircraft Completes Minority Investment in Eclipse Aerospace
February 2, 2011, ALBUQUERQUE, N.M. – Sikorsky Aircraft Corp. and Eclipse Aerospace Inc. announced today the completion of a minority equity investment by Sikorsky in Eclipse Aerospace. The companies also entered into a Service Level Agreement pursuant to which Sikorsky will provide global supply chain support and certain production restart services, which will aid Eclipse Aerospace in its efforts to reintroduce production of the Eclipse 500® very light twin engine jet. Located in Albuquerque, New Mexico, Eclipse Aerospace provides engineering, service, and support for the fleet of roughly 260 Eclipse 500 twin-engine jets. Sikorsky Aircraft, manufacturer of the BLACK HAWK helicopter and other iconic aircraft, is a subsidiary of United Technologies Corp. (NYSE:UTX).
“The management team at Eclipse Aerospace shares with Sikorsky a passion for quality products and a customer-first commitment. We are pleased to make this equity investment and look forward to providing global support to Eclipse as it works to restart production of its twin engine very light jet,” said Mark Cherry, Vice President of Corporate Strategy and Synergy for Sikorsky.
Eclipse Aerospace currently offers “Total Eclipse” aircraft direct from its factory. These factory refurbished aircraft are configured with the AvioNG integrated flight management system, ability to fly into known ice (FIKI), and coupled auto pilot approach capability for horizontal and vertical approach guidance. These “like new” Total Eclipse Aircraft also come complete with full factory warranty, new paint, and all new interior.
“We are thrilled to announce the closing of this significant investment in Eclipse. Beyond the equity investment, however, we at Eclipse hope to draw from Sikorsky’s significant global supply chain resources and manufacturing experience,” stated Mason Holland, Chairman and CEO of Eclipse Aerospace, Inc. “I have said it before and it is worth repeating: With this agreement we now have it all -- a phenomenal fuel efficient twin-engine jet, an enthusiastic customer base and a fantastic engineering, support and service staff, all coupled with the depth and strength of a sound and experienced Sikorsky Aircraft.”
About Eclipse Aerospace, Inc.
Eclipse Aerospace, Inc. provides engineering, maintenance, service, and support for the fleet of 260 Eclipse 500® very light twin-engine jet aircraft. Adhering to the motto “Customer First,” Eclipse Aerospace is focused on providing a superior customer experience for existing and future owners, operators and pilots of the revolutionary Eclipse 500 jet aircraft. Eclipse Aerospace corporate offices are based in Charleston, SC. Principal operations are located in Albuquerque, N.M. and Chicago, Ill. Eclipse Aerospace is located on the Web at www.eclipseaerospace.net.
About Sikorsky Aircraft Corp.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in aircraft design, manufacture and service. 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.
This press release contains forward-looking statements concerning investment in an aerospace company and the potential production and sale of aircraft. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to Eclipse Aerospace’s ability to develop a successful production restart plan and effectively execute such plan, market acceptance of the aircraft, customer demand and 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. www.sikorsky.com