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Russian Helicopters, Italy's AugustaWestland to sign 20 mln euro JV deal

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Russian Helicopters, which designs and manufactures civil and military aircraft, and Italy's AugustaWestland plan to sign a 20 million euro joint venture deal at the Le Bourget air show in France to assemble AW139 helicopters in Russia, Russian Helicopters CEO Dmitry Petrov said on Monday.

Russian Helicopters, which designs and manufactures civil and military aircraft, and Italy's AugustaWestland plan to sign a 20 million euro joint venture deal at the Le Bourget air show in France to assemble AW139 helicopters in Russia, Russian Helicopters CEO Dmitry Petrov said on Monday.

The production of helicopters is expected to be launched on August 15, 2011, while deliveries to customers will start from 2012, Petrov told reporters.

The JV's portfolio of orders comprises over 40 helicopters, including both firm and preliminary contracts.

AgustaWestland is part of Finmeccanica Group. AgustaWestland posted revenues of 3.644 billion euros in 2010 or 4.7 percent more as compared with the previous year.

The company's portfolio of new orders totaled 5.982 billion euros.

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