Tue, Nov 22, 2005
AgustaWestland Gets Program, Added Stake In BA609
Bell Helicopter and
European rotorcraft manufacturer AgustaWestland announced Monday a
realignment of their joint venture Bell Agusta Aerospace Company
LLC (BAAC). Effective upon regulatory and other necessary
approvals, Bell is selling its 25 percent interest in the AB139
medium twin helicopter program (right) to AgustaWestland.
Under the buyout, AgustaWestland will assume 100 percent
ownership of all aspects of the AB139 program going forward. In
return for its 25 percent interest, Bell will receive payments to
reflect its value in the program.
Specific terms of the transaction were not undisclosed.
In addition, the realignment also gives AgustaWestland added
economic interests in the BA609 civil tiltrotor aircraft (below),
from the original 25 percent to a maximum of 40 percent by allowing
increased investment during the civilian tiltrotor's development
"Consolidating ownership of the AB139 will provide a single face
to the customer, leading to increased sales and greater customer
satisfaction related to follow-on support services," said
AgustaWestland CEO Giuseppe Orsi.
Bell Helicopter CEO Michael Redenbaugh added, "Bell and Agusta
have been partners on numerous programs since 1952, and indeed this
partnership continues today on the BA609. In addition, we remain
partnered on other exciting programs such as the 412 helicopter and
the U.S. Presidential fleet of US101s."
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