Eurocopter, South Korea Seal $1.4 Billion Helicopter Deal

Read the forum code of contact

Member for

17 years 10 months

Posts: 195

Eurocopter, South Korea Seal $1.4 Billion Helicopter Deal

Eurocopter, part of European aircraft giant EADS, on June 5 signed a $1.4 billion deal with Korea Aerospace Industry (KAI) to develop military helicopters, officials said.

The contract is part of a multi-billion dollar project to supply multi-purpose helicopters for South Korea’s military.

Eurocopter President Fabrice Bregier and KAI President Chung Hae-Joo inked the 1.3 trillion won ($1.4 billion) contract for the joint development of helicopters at KAI headquarters in South Korea.

Chung said he hoped the deal would help both sides “develop a friendly partnership in the defense sector.”

Eurocopter, a unit of European aerospace and defense giant EADS, and KAI will team up to produce prototypes in 2008, test-fly them in 2010 and complete their development by 2012.

Separate deals will follow on production and maintenance programs for the project, valued by KAI at a total of 9.1 trillion won.

The Seoul government wants more than 240 military transport helicopters in order to replace its aging fleet of U.S. helicopters built by Bell and introduced in the 1970s.

Eurocopter won the lucrative helicopter project over Bell and the British-Italian joint venture Augusta Westland.

http://www.defencetalk.com/news/publish/article_006282.php

Original post