Diversified business conglomerate United Technologies Corp. (UTX - Free Report) recently inked a service contract with French military helicopter training company HeliDax SAS for an undisclosed amount. The contract entails UTC Aerospace Systems, an operating unit of United Technologies, to provide aftermarket services for HeliDax’ helicopters that boasts the largest single-engine EC120 worldwide fleet currently in operation.
In Jan 2008, HeliDax had received a 22-year contract from the French Military of Defense for training military pilots to operate sophisticated helicopters. Under the terms of the contract, HeliDax’ training schedule includes a maximum of 22,000 flying hours per year on its fleet of 36 EC120 helicopters renamed ‘Calliope’.
These helicopters are equipped with special training equipment such as auto pilot, glass cockpit systems and full night vision imaging systems (NVIS) to simulate war or rescue missions to better train pilots to effectively handle such situations. UTC Aerospace will work in unison with HeliDax to provide an operational support to such helicopter training.
Based in Hartford, Conn., United Technologies provides high-end technology products and services to the building systems and aerospace industries worldwide. The company is a diversified business conglomerate serving various end markets such as aerospace, defense and commercial construction. The business diversification allows the company to remain profitable amid tough economic times.
The operations of the company are primarily classified into two principal businesses: commercial and aerospace. Under its commercial business, the company has Otis and the UTC Climate, Controls & Security division, which combined the former Carrier and UTC Fire & Security divisions. The aerospace business of the company consists of Sikorsky aircraft and the UTC Propulsion & Aerospace Systems, which includes UTC Aerospace Systems and Pratt & Whitney divisions.
United Technologies presently has a Zacks Rank #3 (Hold). Other notable companies in the industry include ITT Corporation (ITT - Free Report) , China Merchants Holdings (International) Company Limited and Federal Signal Corp. (FSS - Free Report) , carrying a Zacks Rank #2 (Buy).