Top Indian company Tata Sons and leading Italian helicopter company AgustaWestland on Tuesday signed an agreement for formation of a joint venture company which will establish a final assembly line for AW-119 helicopters for the Indian and global market. The agreement was signed in the Capital by Tata Group chairman Ratan Tata and AgustaWestland CEO Giuseppe Orsi.
The AW-119 has been offered to India by AgustaWestland for replacing ageing fleet of Cheetah and Chetak light helicopter fleet of the Indian Armed Forces. The Indian Army currently has around 300 Chetak and Cheetah in its chopper fleet and is looking at modernisation of the fleet with AW-119 helicopters.
The joint venture company will be a supplier for the current Reconnaissance and Surveillance Helicopter (RSH) programme of the Indian Armed Forces, for which AgustaWestland has already proposed the AW119 to be manufactured in India.
As per the agreement, the joint venture company will be responsible for AW119 final assembly, completion and delivery while AgustaWestland will retain responsibility for worldwide marketing and sales. The first aircraft is scheduled to be delivered from the new facility in 2011 with production forecast to rise to 30 aircraft per year to meet worldwide demand.
Orsi said establishment of AW-119 assembly line in India would provide extraordinary industrial opportunities both in the country and worldwide through synergies generated by AgustaWestland and Tata Sons. He added the two companies were exploring further commercial, technical and industrial collaboration opportunities in the rotor craft industry to strengthen its strategic relationship.
AgustaWestland, a Finmeccanica company, offers helicopters, training and support solutions to satisfy the requirements of civil and military customers. Its primary operations are in Italy, the UK and the USA.
Tata companies operate in seven business sectors: Communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The total revenue of Tata companies, taken together, was around Rs 325-334 crore in 2008-09, with 64.7 per cent of this coming from business outside India. There are 28 publicly listed Tata enterprises and they have a combined market capitalisation of some $60 billion, and a shareholder base of 3.5 million.
The AW-119 has been offered to India by AgustaWestland for replacing ageing fleet of Cheetah and Chetak light helicopter fleet of the Indian Armed Forces. The Indian Army currently has around 300 Chetak and Cheetah in its chopper fleet and is looking at modernisation of the fleet with AW-119 helicopters.
The joint venture company will be a supplier for the current Reconnaissance and Surveillance Helicopter (RSH) programme of the Indian Armed Forces, for which AgustaWestland has already proposed the AW119 to be manufactured in India.
As per the agreement, the joint venture company will be responsible for AW119 final assembly, completion and delivery while AgustaWestland will retain responsibility for worldwide marketing and sales. The first aircraft is scheduled to be delivered from the new facility in 2011 with production forecast to rise to 30 aircraft per year to meet worldwide demand.
Orsi said establishment of AW-119 assembly line in India would provide extraordinary industrial opportunities both in the country and worldwide through synergies generated by AgustaWestland and Tata Sons. He added the two companies were exploring further commercial, technical and industrial collaboration opportunities in the rotor craft industry to strengthen its strategic relationship.
AgustaWestland, a Finmeccanica company, offers helicopters, training and support solutions to satisfy the requirements of civil and military customers. Its primary operations are in Italy, the UK and the USA.
Tata companies operate in seven business sectors: Communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The total revenue of Tata companies, taken together, was around Rs 325-334 crore in 2008-09, with 64.7 per cent of this coming from business outside India. There are 28 publicly listed Tata enterprises and they have a combined market capitalisation of some $60 billion, and a shareholder base of 3.5 million.
