Sikorsky Aircraft Corp., of Stratford, Conn., announced on Thursday that it has agreed to acquire Schweizer Aircraft Corp., a family-owned company based in Elmira, N.Y., that produces sailplanes, light helicopters, agricultural airplanes, reconnaissance aircraft and unmanned aerial vehicles (UAVs). "Schweizer Aircraft is a great strategic fit for Sikorsky, providing us with proven leadership, a highly skilled and dedicated workforce, and immediate access to the light helicopter and UAV markets," Sikorsky President Steve Finger said in a news release. Financial terms of the deal were not disclosed. The takeover, which has been approved by the leadership of both companies, is expected to be complete by late this year. "We have grown to the point where we can benefit from the increase in financial, technical and marketing resources that Sikorsky offers," said company President Paul Schweizer. Schweizer's 421 workers and management team are expected to remain in place after the acquisition.
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