Sikorsky Aircraft Named U.S. 'Investor of Year' in Poland

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Sikorsky Aircraft Named U.S. 'Investor of Year' in Poland

December 11, 2008

  Warsaw, Poland - WARSAW, Poland - The U.S. Chamber of Commerce in Poland has named Sikorsky Aircraft Corporation its "Investor of the Year" for 2008, for its efforts in the acquisition of the PZL Mielec factory and integrating it into a modernized, efficient facility. Sikorsky is a subsidiary of United Technologies Corp. (NYSE:UTX).

The American Chamber's Investor of the Year Award is given to a chamber member that has achieved impressive growth, visibility, and a significant breakthrough in the Polish market, demonstrating its long-term commitment and its contribution to the labor market while adhering to the highest standards of business ethics. The award was announced at the Chamber's Annual General Meeting held at the Warsaw Sheraton Hotel.

"Sikorsky's investment in PZL Mielec serves as yet another example of the dedication of our firm and our parent company, to the people of Poland," said Sikorsky President Jeffrey P. Pino. "With a combined nearly 8,000 employees, United Technologies Corporation, Pratt & Whitney, and Sikorsky Aircraft are Poland’s largest aviation industry employers. These combined strategic investments of money, know-how and state-of-the-art technologies will significantly add to Poland's proud aviation tradition among European and global companies."

Since the acquisition of PZL Mielec on March 16, 2007, Sikorsky has delivered on each of the broad commitments. Sikorsky has invested millions of dollars in fixed assets, environmental remediation, and human resources training and transfer of technical expertise. In addition, Sikorsky has initiated a broad social package for PZL Mielec employees.

During this time, employment at PZL Mielec has increased by 11 percent, from an initial level of 1,471 employees to 1,640 full-time personnel. Additional employees are expected to be hired in the next 12 months, and groundbreaking is scheduled soon for a new European Union funded vocational training facility to educate more than 200 students per year for PZL Mielec.

"PZL Mielec is a key component of Sikorsky’s strategic plans for Europe,” Pino continued. “As production plans move forward for the S-70i BLACK HAWK™ helicopter to be built there, we have big plans for Polish production and export of aircraft and components as well. Among those plans are the production of cabins and other major assemblies of the UH-60M BLACK HAWK helicopter, production and export of the PZL Mielec M28, aircraft and final assembly and testing of the S-70i BLACK HAWK helicopter.”

Production of highly-advanced and combat-proven BLACK HAWK helicopters and cabins in PZL Mielec will have tremendous effects on numerous other privately- and publicly-held Polish aviation entities. In the short term, economic and export benefits will accrue from parts sourcing, increased labor, sales to the U.S. Armed Forces, and technology transfer. In the long-term, Sikorsky is evaluating other Polish firms and institutes that will serve as completion centers, sustainment and parts-management centers, and certification institutes.

Sikorsky Aircraft Corp., based in Stratford, Conn., USA, is a world leader in helicopter design, manufacture and service. The company's mission statement reflects its long commitment to safety and innovation: "We pioneer flight solutions that bring people home everywhere ... every timeTM. "United Technologies Corp., based in Hartford, Conn., USA, 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 future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices or in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as 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.

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