Manufacturer expands with acquisition of completion and customisation specialist
Sikorsky is to acquire helicopter completions and support company Keystone Ranger Holdings, continuing the drive to build its aftermarket business. The private Pennsylvania-based holding company is the parent of completion and customisation specialist Keystone Helicopters and Composite Technology (CTI), which overhauls rotor blades and composite structures.
The acquisition will help Sikorsky cope with a planned doubling of helicopter production over the next three years, says Jeff Pino, senior vice-president corporate strategy, marketing and commercial programmes. “Keeping the aftermarket at 50% of revenues is our stated goal. As we grow to $4 billion by 2008, the aftermarket has to keep up.”
Customisation of commercial helicopters will be moved out of Sikorsky’s Stratford, Connecticut plant. “When the work increases within a fixed area, you have to do things differently,” says Pino.
“We have to set up Stratford to produce the same aircraft every time one goes down the line. Customising these does not make sense,” Pino adds.
Based in West Chester and Coatesville, Pennsylvania, Keystone completes most of Sikorsky’s commercial helicopters, plus AgustaWestland, Bell, Eurocopter and MD Helicopters aircraft.
The company also designs and produces customisation kits, while its Flight Services division operates a fleet of air medical helicopters at hospital bases in the eastern USA.
Meanwhile, CTI, based in Grand Prairie, Texas, will be procured under Sikorsky’s Helicopter Support parts distribution and component overhaul subsidiary. Earlier acquisitions included HSI, military aircraft support specialist Derco and light helicopter manufacturer Schweizer.
Source: Flight International
