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Old 18th May 2004 | 07:56
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Heliport
 
Joined: Mar 2000
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From: UK
End of the line for British helicopters?

BBC News report
Helicopter firm may be bought out

Speculation is mounting that Britain's only helicopter-maker, AgustaWestland, could be sold to its Italian partner.

Investment bank Goldman Sachs says GKN, which owns the UK half, may be close to selling its 50% stake to Finmeccanica, which owns the other half.

Westland and Agusta merged in 2000, creating a company with an order book totalling £5.33bn.

The Westland factory, which is based in Yeovil, makes Lynx and Apache Helicopters.

In 2002, Westland's Weston-super-Mare plant closed, with the loss of 350 jobs.

In June last year, the company's fortunes turned around with Westland Helicopters landing a contract with the Japanese Defence Agency worth more than £300m.
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