AgustaWestland acquires PZL-Swidnik
AgustaWestland today signed an agreement to purchase 87.61% of PZL-Świdnik, a Polish company which produces helicopters and aerostructures, for a sum of PLN 329 million.
The acquisition, which comes after the privatisation process launched by the Polish treasury's industrial development agency, is subject to antitrust approval, and is expected to be completed by the end of the year. This stake comes in addition to the 6.2% already owned by AgustaWestland.
Giuseppe Orsi, CEO of AgustaWestland said: "With the acquisition of PZL-Świdnik, it will be possible to rationalise and optimise the work processes and organisation of all activities undertaken up to now outside Italy, improving the manufacturing processes with targeted investment. "This deal will therefore provide a platform for further growth in important international markets without any negative impact on AgustaWestland's activities in Italy".