On Tuesday, United Technologies (NYSE:UTX) subsidiary Sikorsky Aircraft announced that it has entered into an agreement to sell helicopter operator Bristow Group (NYSE:BRS) up to 26 S-76D helicopters for use in ferrying workers to and from offshore oil platforms.
This will be the first time the S-76D model helicopter has been used in such oil transport operations, and according to Sikorsky President Mick Maurer, this sale "strengthens the more than 40-year relationship between the Bristow Group and Sikorsky Aircraft."
Deliveries are set to begin later this year. Financial terms were not disclosed, but Sikorsky is said to sell the S-76D for anywhere from $9.1 million to $9.9 million, suggesting a total deal value of up to $257 million.
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