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AgustaWestland acquires helicopters and aerostructures manufacturer PZL- Swidnik

AgustaWestland, a Finmeccanica company, today signed an agreement to purchase 87.61% of PZL- Swidnik, a Polish company which produces helicopters and aerostructures, for a sum of PLN 329 million. This stake comes in addition to the 6.2% already owned by AgustaWestland. The acquisition, which comes after the privatisation process launched by the Polish treasury's industrial development agency, is subject to antitrust approval, and is expected to be completed by the end of the year.

This is a strategic move for Finmeccanica, since the acquisition of PZL-Swidnik will enable AgustaWestland to strengthen its leadership, expand its operations in Europe and increase its competitiveness, all thanks to PZL's many years' experience in the field of helicopter aerostructures, especially fuselages, which the company produces for five AgustaWestland helicopters.

Pier Francesco Guarguaglini, Chairman and CEO of Finmeccanica, commented: "the merger of PZL- Swidnik into AgustaWestland should generate significant opportunities for the group in the helicopter sector, not only because of PZL's expertise in aerostructures, but also because of the access the merger will give to new geographical markets and because PZL and AgustaWestland products are highly complementary".

Press release issued by Leonardo Helicopters (Finmeccanica) on August 18, 2009

 

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