Article Posted on : - Jun 27, 2011

PARIS (BNS): Russian Helicopters and Italy’s AgustaWestland have signed an agreement to form a joint venture entity that will assemble the AW139 medium twin engine civil helicopters in Russia.

“Russian Helicopters (subsidiary of JSC UIC Oboronprom, part of Russian Technologies State Corporation) and AgustaWestland (a Finmeccanica company) are pleased to announce the signing of the final agreements for the firm establishment of HeliVert, a Russian Helicopters and AgustaWestland “equal” joint venture,” the companies said in a statement.

The agreement was signed during the just-concluded Paris Air Show at Le Bourget.

The new company, HeliVert, will come up at 40,000 square meter site in Tomilino, Moscow region and is expected to be opened by summer with assembly activities to start in the 4th quarter this year.

The plant will assemble up to 15 AW139s per year that will cater to the civil markets in Russia and CIS countries.