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Plan of building Aero-PZL Group

Aero Vodochody, the largest aviation manufacturer in the Czech Republic, submitted its tender offer regarding the purchase of PZL-Swidnik and thus has entered the next stage of PZL-Swidnik privatization process. According to the submitted offer, Aero wants to ensure PZL-Swidnik an equal position in the CEE aviation holding and plans to fully engage R&D potential of the Swidnik's plant. The Czech producer intends to maintain the Polish character of the Company and will support the factory's independence in the area of developing new innovative aviation constructions. The strategic aim of Aero Vodochody is to create a new aviation holding through several investments in the Czech Republic and abroad, particularly in the CEE region. Aero sees a great potential in the Polish market, stemming from its long-term tradition and experience in aviation production.

Merging the Polish helicopter producer with the Czech company with 90-year-long experience in aerospace production and aerostructures will allow creating a wider and more competitive holding. Cultural and geograhpical proximity as well as the tradition in aviation production of both the companies will allow cooperation in their development and production capabilities.

With its 5500 employees and revenues at 290 million EUR, the Aero-PZL Swidnik Group would have a better position in relation to worldwide aviation concerns, especially in the field of aerostructures. The combined portfolio of clients will also prevent further dependence of PZL-Swidnik on dominant partners.

"We see PZL-Swidnik as an equal partner, having independence in cooperation with current partners and preserving ability to establish new contacts with largest aviation companies," said Igor Hulak, the President of Aero Vodochody. The Czech partner also intends to use more effectively Swidnik's potential in risk-sharing projects. Moreover, the factory in Swidnik would become a holding R&D centre in the field of composites and spare parts, both vital for the aviation industry. The current plant activity profile would also be maintained and with time the plant would become a centre of excellence for helicopters development, production and maintenance.

In order to achieve its goals, Aero counts on involvement of the staff and PZL-Swidnik management in building a new aviation holding. Human resources along with the existing infrastructure and technologies are the biggest contribution the Company intends to bring into the future holding.

AERO Vodochody a.s. focuses on development, production, sales and support of civil and military aviation technology, following the tradition of Aero – Aircraft Factory (*1919), ranking among the oldest aviation producers in the world. Aero has well-established co-operation with leading aerospace manufacturers – Sikorsky Aircraft Corporation (S-76C helicopter), Alenia Aeronautica (C-27J Spartan center wing box), Latecoere (Embraer 170/190 subassemblies), Boeing (F/A-18 gun bay door), Spirit Aerosystems (B767 fixed leading edge kits), EADS (A320/340 subassemblies), etc. Aero is currently the largest aviation technology producer in the Czech Republic and historically the largest producer of jet training aircraft in the world. Aero Vodochody's long-term aim is to build a new aerospace holding in the CEE region, thus strengthening its position on the market of aerostructures, reaching interesting projects on the first-tier supplier level. Aero Vodochody sees great growth potential in the aerostructures business, confirmed by interest shown in negotiations with its current as well as potential customers.

Press release issued by Aero Vodochody Aerospace a.s. on December 1, 2008


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