Helitech Australia sold to ..... guess who?
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Helitech Australia sold to ...
...... none other than Sikorsky!
The news might be a couple of weeks old, but I haven't seen it posted.
I wonder how Helitechs' Bell distributership will be affected?
Link to Sikorsky media release: http://www.sikorsky.com/news_archive...ID5021,00.html
Jun. 12, 2003
- Sikorsky Aircraft Corp. announced today that its Australian subsidiary, Sikorsky Aircraft Australia Limited (SAAL), has signed a contract to purchase Helitech's aerospace service & product support business located in Brisbane, Australia.
The companies did not disclose financial terms. The transaction is expected to close in the third quarter of 2003.
Helitech is a leader in product support, component distribution and maintenance and repair of military and civil helicopters in the Australasian region. In addition, the company provides design and engineering services, pilot services and technical training. The Helitech businesses to be acquired have about 200 employees and will become part of Sikorsky's Worldwide Customer Service (WCS) organization.
"Adding these Helitech operations to the Sikorsky family provides a substantial footprint in Australia and allows us to enhance our service offerings to our Australian customers," said Sikorsky President Dean Borgman. "We are delighted with this deal."
Helitech Industries Chairman Peter Joseph said, "This transaction is a good outcome for all. With Sikorsky, our customers have continuity, certainty and unqualified commitment. And Helitech personnel transferring to Sikorsky have expanded career opportunities. We wish them all well."
- Sikorsky Aircraft Corp. announced today that its Australian subsidiary, Sikorsky Aircraft Australia Limited (SAAL), has signed a contract to purchase Helitech's aerospace service & product support business located in Brisbane, Australia.
The companies did not disclose financial terms. The transaction is expected to close in the third quarter of 2003.
Helitech is a leader in product support, component distribution and maintenance and repair of military and civil helicopters in the Australasian region. In addition, the company provides design and engineering services, pilot services and technical training. The Helitech businesses to be acquired have about 200 employees and will become part of Sikorsky's Worldwide Customer Service (WCS) organization.
"Adding these Helitech operations to the Sikorsky family provides a substantial footprint in Australia and allows us to enhance our service offerings to our Australian customers," said Sikorsky President Dean Borgman. "We are delighted with this deal."
Helitech Industries Chairman Peter Joseph said, "This transaction is a good outcome for all. With Sikorsky, our customers have continuity, certainty and unqualified commitment. And Helitech personnel transferring to Sikorsky have expanded career opportunities. We wish them all well."
I wonder how Helitechs' Bell distributership will be affected?
Link to Sikorsky media release: http://www.sikorsky.com/news_archive...ID5021,00.html
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Helitech's parent still Bell distributor
From the sikorsky press release:
Helitech's parent company, to be renamed soon, will continue as the Independent Representative for Bell Helicopter Textron, Bell Agusta Aerospace Corporation, Textron Systems Inc., New Piper Aircraft and their components, and Yamaha unmanned aircraft. The parent company will continue to hold its majority interest in the Composite Technologies rotor blade repair operations in the USA, the United Kingdom and a number of other countries.
HSI (Helicopter Support International) the wholly owned Sikorsky subsidiary is already an authorized Bell Helicopter Textron, Robinson Helicopter and Schweizer Aircraft Corporation service center and are authorized distributors for many manufacturers.
One rumour (remember this is a RUMOUR network) was that Uncle Joe, one of the former directors of Helitech, retained the rights to the Bell distributorship as part of the deal.
Anybody heard this one?
Anybody heard this one?
