Finmeccanica-AgustaWestland announced today it has signed a contract for the sale of ten AW189 commercial helicopters to RN-Aircraft, a subsidiary of the oil company Rosneft. The contractforesees that the new helicopters will be used for transportation purposes.
Delivery of the aircraft is expected between 2015 and 2017. Moreover, as already set out in the framework agreement signed in December 2014 and with the involvement of Russian Helicopters, a subsidiary of Rosteccorporation, Rosneft plans to order further helicopters by 2025, for a total of up to 160 units.
The parties also reached an agreement for the progressive restructuring of HeliVert, a 50-50 Finmeccanica-AgustaWestland and Russian Helicopters joint venture, which foresees the future participation of Rosneft, worth 30% of the shares. Subsequently, shares in HeliVert will be redistributed as follows: 40% to Finmeccanica-AgustaWestland, 30% to Russian Helicopters, 30% to Rosneft.
With Rosneft joining HeliVert, Finmeccanica will strengthen its industrial collaboration with its Russian partners and its commercial presence, by introducing a new product into the Russian market, which has already proven extremely successful globally.
Source: AgustaWestland, A Finmeccanica Company (Milan: FNC.MI)
Date: Jul 21, 2015