Agusta reclaims 100% stake in AB139
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Agusta reclaims 100% stake in AB139
Bell Helicopter and AgustaWestland announce realignment of Joint Venture
Bell/Agusta Aerospace Corp. Nov. 21st
Bell Helicopter and AgustaWestland today announced a realignment of their joint venture, Bell Agusta Aerospace Company LLC (BAAC). Effective upon regulatory and other necessary approvals, Bell is selling its 25% interest in the AB139 medium twin helicopter program to AgustaWestland.
AgustaWestland will assume 100% ownership of all aspects of the AB139 program going forward. In return for its 25% interest, Bell will receive payments to reflect its value in the program. Specific terms of this transaction are undisclosed.
In addition, the realignment allows AgustaWestland to confirm the ability to increase its economic interests in the BA609 civil tiltrotor aircraft, which will remain within BAAC, from the original 25% to a maximum of 40% by increasing its investments during the development phase.
"Consolidating ownership of the AB139 will provide a single face to the customer, leading to increased sales and greater customer satisfaction related to follow-on support services," said AgustaWestland Chief Executive Officer Giuseppe Orsi.
Bell Helicopter Chief Executive Officer Michael Redenbaugh commented, "Bell and Agusta have been partners on numerous programs since 1952, and indeed this partnership continues today on the BA609. In addition, we remain partnered on other exciting programs such as the 412 helicopter and the U.S. Presidential fleet of US101s."
BAAC is a joint venture corporation that markets and supports the BA609 civil tiltrotor. The BA609, the world's first civil tiltrotor aircraft, features extended range and speed compared to traditional VTOL aircraft.
Bell/Agusta Aerospace Corp. Nov. 21st
Bell Helicopter and AgustaWestland today announced a realignment of their joint venture, Bell Agusta Aerospace Company LLC (BAAC). Effective upon regulatory and other necessary approvals, Bell is selling its 25% interest in the AB139 medium twin helicopter program to AgustaWestland.
AgustaWestland will assume 100% ownership of all aspects of the AB139 program going forward. In return for its 25% interest, Bell will receive payments to reflect its value in the program. Specific terms of this transaction are undisclosed.
In addition, the realignment allows AgustaWestland to confirm the ability to increase its economic interests in the BA609 civil tiltrotor aircraft, which will remain within BAAC, from the original 25% to a maximum of 40% by increasing its investments during the development phase.
"Consolidating ownership of the AB139 will provide a single face to the customer, leading to increased sales and greater customer satisfaction related to follow-on support services," said AgustaWestland Chief Executive Officer Giuseppe Orsi.
Bell Helicopter Chief Executive Officer Michael Redenbaugh commented, "Bell and Agusta have been partners on numerous programs since 1952, and indeed this partnership continues today on the BA609. In addition, we remain partnered on other exciting programs such as the 412 helicopter and the U.S. Presidential fleet of US101s."
BAAC is a joint venture corporation that markets and supports the BA609 civil tiltrotor. The BA609, the world's first civil tiltrotor aircraft, features extended range and speed compared to traditional VTOL aircraft.
Join Date: Jan 2005
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Actually the 'Rumour-Mill' over the last year has been churning out information that Bell has been pushing for this agreement from their side to get back their 75% claim to the BA609 (according to the rumours they came close to losing their controlling interest of the BA609 during the 'Tiltrotor turmoil period' that has now turned the corner). Agusta resisted, but caved in as long as they can claim back the 139 and increase their position in the 609. The AB 139 is a great aircraft with incredible Cat 'A' capabilities (flew it for the first time last Friday). I feel a bit sorry for those who ordered the AB-139s expecting to have 'Bell Product Support.'
Last edited by 21st Century; 22nd Nov 2005 at 16:38.
Nee'k,
It only means increases in 412 sales, now we will be sold out for three plus years.
Hey, what interior design decisions did you make today? Did you go with the powder blue or the light green interior?
The Sultan
It only means increases in 412 sales, now we will be sold out for three plus years.
Hey, what interior design decisions did you make today? Did you go with the powder blue or the light green interior?
The Sultan
