Aero Vodochody remains only partner in negotiations on acquisition of Avioane Craiova

16/07/2008 | AVAS, the Romanian Authority for State Assets Recovery, has announced AERO Vodochody a.s remains the only partner in negotiations on acquisition of Avioane Craiova.

AVAS, the Romanian Authority for State Assets Recovery, has announced AERO Vodochody a.s remains the only partner in negotiations on acquisition of the Romanian aviation manufacturing company Avioane Craiova.

“We are more than glad about the news, which came from Romania just yesterday, confirming our strategic objective to further strengthen our position on the market of international aerostructures through building a new European aerospace holding. We are gradually extending our capability through organic and acquisition growth, enabling us to continually upgrade our services offered and provided to our customers. We share many similarities with Avioane Craiova in both aerostructures and military businesses and together we can mutually benefit from the synergy of our experience and potential,” commented Igor Hulak, President of AERO Vodochody.

The bid of AERO Vodochody was backed up not only by the strong industry tradition, experience and future business plan ensuring long-term continuation of aviation production in Craiova but also by recent own experience from a successful privatization and restructuring process in the Czech Republic bearing many similar characteristics with today’s situation of Aviaone Craiova.

AERO Vodochody aims to continue with current programs of Avioane Craiova and further develop its aerostructures production portfolio, in the military program maintaining the established position of the reliable partner to the Romanian Air Force. “It is, of course, obvious that Avioane Craiova will have to go through a deep restructuring process focused on efficiency improvement and technological capability enhancement. However, we are confident about the great potential of Avioane Craiova stemming from its almost 40-year-long tradition in aviation production and look forward to working together with the team on realizing our ambitious plans,” added President Hulak.

AERO Vodochody a.s. focuses on development, production, sales and support of aircraft and aerostructures in both civil and military aviation technology. The Company follows the tradition of Aero – Aircraft Factory (*1919), ranking among the oldest aviation technology producers in the world. The Company has well-established cooperation with leading aerospace manufacturers – Sikorsky Aircraft Corporation (S-76C helicopter), Alenia Aeronautica (C-27J Spartan center wing box), Latecoere (Embraer 170/190 subassemblies), Boeing Company (F/A-18 gun bay door), etc. AERO Vodochody is currently the largest aviation technology producer in the Czech Republic and historically the largest producer of jet training aircraft in the world.