AgustaWestland NV
is an Anglo-Italian
multinational
helicopter design and
manufacturing company, and a
wholly owned subsidiary of
Finmeccanica. It was formed in
July 2000 when Finmeccanica and
GKN merged their respective
helicopter subsidiaries (Agusta
and Westland Helicopters) to
form AgustaWestland, with each
holding a 50% share.
Finmeccanica acquired GKN's
stake in AgustaWestland in 2004.
The
Italy-based Finmeccanica and the
United Kingdom-based GKN first
announced their intention to merge
their respective helicopter
subsidiaries, Agusta and Westland
Helicopters, in March 1999.
Finmeccanica and GKN announced
finalised terms for the merger in
July 2000, which included a 50:50
ownership structure, and the payment
of top-up fees to GKN to compensate
for a disparity in profit levels
between Agusta and Westland.
In
January 2002, AgustaWestland
announced that it would be cutting a
total of 950 jobs in the United
Kingdom and closing its factory in
Weston-super-Mare, which carried out
customer support work, as activity
was concentrated at its main site in
Yeovil.
On 26 May
2004, GKN confirmed that it had
agreed to sell its share of
AgustaWestland to Finmeccanica for
£1.06 billion. The sale was
approved by the British government
in October 2004.
AgustaWestland opened offices in
Philadelphia in 2005, and won a
contract to build the new
presidential helicopter Marine One
over the U.S. manufacturer Sikorsky
Aircraft, but this program was
canceled in 2009. In November
2005 it was announced that
AgustaWestland had agreed to acquire
Bell Helicopter's 25 per cent
interest in the AB139 medium twin
helicopter program, and to increase
its interest in the BA609 civil
tiltrotor aircraft from 25 per cent
to 40 per cent.
In June
2008, AgustaWestland and the
Russia-based helicopter manufacturer
Russian Helicopters agreed to form a
new joint venture company to
assemble AW139 helicopters in
Russia. Construction of a $50
million helicopter assembly facility
in the town of Tomilino near Moscow
began in June 2010.
In early
2010, AgustaWestland acquired
PZL-Świdnik, a Polish helicopter
manufacturer.
In
September 2012, AgustaWestland and
Northrop Grumman announced the
signing of a comprehensive teaming
agreement under which the companies
will jointly bid for contracts to
build the U.S. Air Force Combat
Rescue helicopter and U.S. Navy's
new "Marine One" presidential
helicopter.
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