Differences Settled, Contract Signed
HARTFORD, Conn. (AP) _ United Technologies says its Sikorsky Aircraft division has signed a deal with Canada for the delivery of 28 maritime helicopters, ending a long and costly dispute.
The delivery of the helicopters was originally scheduled to begin in 2012. But Sikorsky and Canadian officials clashed over production, support and other issues.
Hartford-based United Technologies Corp. says Sikorsky will book sales of about $850 million and a charge of $440 million in the second quarter related to the deal. The charge will be offset by one-time gains over the course of the year so its full-year earnings outlook remains unchanged.
Canada says the deal will allow it begin retiring its fleet of Sea King helicopters in 2015.
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