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February 2006 edition

Libya attracts investment and aircraft modernisation

Finmeccanica, AgustaWestland and the Libyan Company for Aviation Industry have joined forces to form the Libyan Italian Advanced Technology Company, or LIATEC. Libyan Company for Aviation Industry will own a 50 per cent share, while the other two firms will each hold 25 per cent.

Finmeccanica and AgustaWestland will contribute know-how, training, technology and equipment to the venture, and the Libyan Company will mainly invest in infrastructure, plant and local marketing activities.

The company’s headquarters will be in Tripoli. From there, LIATEC plans to invest in the aeronautics technology and electronics systems of most interest to the country. It also hopes to modernise Libya’s existing fleet of helicopters and aircraft and launch a maintenance centre and production assembly line.

T....

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