Wed, Feb 17, 2010
New Enterprise Will Complete Final Assembly Of AW119 In
India
AgustaWestland and Tata Sons have signed a Shareholders'
Agreement for the formation of an Indian joint venture company
which will establish in India a final assembly line for the AW119
helicopter for the worldwide market.
The agreement was signed in New Delhi Tuesday by Mr. Giuseppe
Orsi, CEO, AgustaWestland and Mr. Ratan Tata, Chairman, Tata Sons.
The joint venture company will be responsible for AW119 final
assembly, completion and delivery while AgustaWestland will retain
responsibility for worldwide marketing and sales. The first
aircraft is scheduled to be delivered from the new facility in 2011
with production forecast to rise to 30 aircraft per year to meet
worldwide demand.
Mr. Giuseppe Orsi, CEO, AgustaWestland speaking after the
signing ceremony said "It gives us great pleasure to have achieved
this important agreement with such a leading industrial partner in
India. The establishment of a Joint Venture to set up an AW119
assembly line in India will provide extraordinary industrial
opportunities both in the country and worldwide through the
synergies generated by AgustaWestland and Tata Sons capitalizing
upon the depth of their respective resources. We are committed to
enabling Tata Sons to play an increasing role as an aerospace
enterprise and to jointly exploiting future prospects in the
growing Indian helicopter market."
AW119 File Photo
It is envisaged that the joint venture company would be a
supplier for the current Reconnaissance and Surveillance Helicopter
(RSH) program of the Indian Armed Forces, for which AgustaWestland
has already proposed the AW119 to be manufactured in India.
Additionally, AgustaWestland and Tata Sons are exploring further
commercial, technical and industrial collaboration opportunities in
the rotorcraft industry to strengthen their strategic
relationship.
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