Embraer S.A. and AgustaWestland, a Finmeccanica company, today announced that they have signed a memorandum of understanding aiming at establishing a joint-venture which could lead to the production of AgustaWestland helicopters in Brazil to be marketed for both commercial and military use in Brazil and Latin America.
“This is an important step for Embraer as we continue expanding our business”, said Frederico Fleury Curado, Embraer President and CEO. “We are certain that the combined skills and competences of Embraer and AgustaWestland will create great value for customers in the region.”
Bruno Spagnolini, CEO, AgustaWestland said “We are pleased to have signed this MoU with Embraer and look forward to working with them to establish a joint-venture company in Brazil to manufacture and market helicopters. Brazil is an important market for AgustaWestland and we believe having an industrial presence in this country will help us to further grow our business in one of the world’s fastest growing markets.”
Preliminary studies by Embraer and AgustaWestland show strong market potential for twin engine, medium lift helicopters, especially to meet the requirements of the offshore oil and gas market. Other key market sectors, such as executive transport and military, show promising potential as well. The partners aim at establishing the joint-venture within a few months once a final agreement has been reached and the relevant approvals have been obtained.
Source: Embraer - Empresa Brasileira de Aeronautica S.A. (NYSE: ERJ)
Date: Jan 21, 2013