AW and Oboronprom Agree Upon JV

AgustaWestland and Oboronprom announced they have signed an agreement for the establishment of a 50-50 joint venture in Russia to set up and run a civil AW139 final assembly line. They are seeking approval of the Russian government. The office of the joint venture and the final assembly line will be located in the Moscow region. Furthermore, UTAir of Russia has signed a letter of intent for the purchase of up to 49 AW139 helicopters during a 5-7 year period that will be delivered from the JV’s final assembly line starting from 2011. For related news