Russian Helicopters, Italy's Westland sign JV deal

Russian Helicopters, which designs and manufactures civil and military aircraft, and Italy's AugustaWestland plan to sign a 20 million euro joint venture deal at the Le Bourget air show in France to assemble AW139 helicopters in Russia, Russian Helicopters CEO Dmitry Petrov said on Monday. The production of helicopters is expected to be launched on August 15, 2011, while deliveries to customers will start from 2012, Petrov told reporters. The JV's portfolio of orders comprises over 40 helicopters, including both firm and preliminary contracts. AgustaWestland is part of Finmeccanica Group. AgustaWestland posted revenues of 3.644 billion euros in 2010, a 4.7 percent increase year-on-year. The company's portfolio of new orders totaled 5.982 billion euros.