Italian aerospace company AgustaWestland and Tata Sons have signed a shareholders’ agreement for the formation of an Indian joint venture company which will establish in India a final assembly line for the AW119 helicopter for the global market.
Addressing a press conference after signing the agreement, AgustaWestland CEO Giuseppe Orsi said the joint venture will be responsible for AW119 final assembly, completion and delivery while AgustaWestland will retain responsibility for global marketing and sales. He further said, ?The first aircraft is scheduled to be delivered from the new facility in 2011 and production forecast to rise to 30 aircraft per year to meet global demand.?
Refusing to divulge the percentage of investment in the venture, Orsi said, the facility will be located in Hyderabad and in the first phase atleast 30 helicopters will be produced.
?The establishment of a joint venture for an AW119 assembly line in India will provide extraordinary industrial opportunities both in the country and outside through the synergies generated by AgustaWestland and Tata Sons, capitalising upon the depth of their respective resources,? he added.
?Under the venture there are opportunities for expansion from AW119 to other machines too, however, the VVIP helicopter which Indian Air Force is expected to procure will not be under production in India,? he explained.
It is envisaged that the joint venture company would be a supplier for the current Reconnaissance and Surveillance Helicopter (RSH) programme of the Indian Armed Forces, for which AgustaWestland has proposed the AW119 to be manufactured in India. In July 2008, India issued a request for proposals for 197 military light-utility helicopters, of which 133 would be deployed by the army and 64 by the air force. The request was sent to AgustaWestland, Bell Helicopter, Eurocopter, Kamov and Sikorsky.