AgustaWestland2008-07-15 10:18:10

Oboronprom Corporation And AgustaWestland Cooperation Background

Oboronprom and AgustaWestland are developing a long-term strategic partnership through a stepped approach, whose driving concepts are based on several common objectives. Through the partnership Oboronprom will foster the development of the Russian commercial helicopter industry for the domestic and international markets and will drive the growth of the Russian civil market through exclusive sales rights and support to AgustaWestland products. As far as AgustaWestland is concerned, through the agreement the company will sustain and maintain a positive sales trend in the Russian commercial market, thereby increasing its market share, duly support the AgustaWestland fleet with a sound technical and maintenance service network and will take advantage of Russian industrial competitiveness and design skills to benefit its line of products.

A Letter of Intent signed in summer 2007, providing for promotion of relations between Oboronprom Corporation and AgustaWestland in various sectors of the civil helicopter business constituted the first steps of the partnership. A second step resulted in the signing in May 2008 of a long-term contract and a distribution agreement between AgustaWestland, Oboronprom Corporation and Loyd's Investments Corp. The agreement provides for the acquisition of AgustaWestland civil helicopters to the approximate value of € 450 million up to 2012. Commitments for 2008 includes 10 helicopters to the total value of around € 65 million comprising two AW119 Ke single engine, two AW109 Power, four Grand light twin and two AW139 medium twin helicopters. The agreement also provides for marketing of AgustaWestland civil helicopters in Russia as well as in the majority of CIS helicopter markets for various applications, e.g. in the VIP market segment, corporate-transport, oil/energy activity support as well as EMS. The agreement also foresee the establishment of a number of maintenance centers for AgustaWestland helicopters in Russia.

With the signature of the Heads of Agreement Oboronprom Corporation and AgustaWestland start the third stage of their evolving cooperation. The agreement provides for the set up of a Joint Venture to assemble in Russia the AgustaWestland AW139 medium twin helicopter for civil purposes. The AW139 Final Assembly line will be built at a green-field location in the Moscow area. The AW139 produced in Russia will be primarily used to satisfy the requirements of the civil markets in Russia and CIS countries and - through the AgustaWestland network - for the rest of the world.

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