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Aug 23, 2009

AgustaWestland

AgustaWestland has beaten rival Aero Vodochody of the Czech Republic to purchase 87.6 percent of Polish helicopter and aerostructures maker PZL Swidnik from the Polish government for 329 million zlotys (USD 112.6 million), adding to the 6.2 percent it already owns. The acquisition is subject to antitrust approval and is expected to be completed by year-end. Pier Francesco Guarguaglini, chief executive of AgustaWestland parent Finmeccanica, says the deal opens access to new markets and fits because PZL's products are "highly complementary". Aug 22, 2009

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