European manufacturer to take stake in Irkut and forms joint venture help to market Be-200 amphibian
EADS is expanding its presence in Russia with an agreement to acquire a stake in Irkut and the formation of a joint venture with the company to market the Be-200 amphibious aircraft.
EADS Defence and Security Systems division chief executive Stefan Zoller and Irkut president Oleg Demchenko signed the agreements at the air show. Under the agreement to invest in the Russian aircraft manufacturer, EADS will acquire newly issued shares representing up to 10% of Irkut’s outstanding capital. The companies expect to conclude the deal by the end of the year. EADS declines to comment on Russian media speculation that the deal is worth around €50 million ($62 million). “We are paying the market price,” the company says. EADS does not rule out extending its stake in Irkut in due course, although Russian law prevents foreign ownership of more than 25% of defence companies. The company says it will wait for the outcome of proposed restructuring and consolidation of the Russian aerospace industry into a single entity – OAK – before discussing it further.
Zoller says “it is part of the global strategy of EADS to form partnerships with the Russian industry. Russian aerospace companies are preparing for industry consolidation and future market success – and we want to be part of it.”
EADS and Irkut are also setting up a joint venture – EADS Irkut Seaplane – to give an extra boost to the marketing of the Be-200. EADS will own 30% and Irkut 70% of the new company, which will be responsible for sales, marketing and product support of the programme worldwide and for the international certification process of the aircraft. Zoller says “offering the worldwide service network of EADS to potential customers [of the Be-200] will significantly leverage its potential”. Certification of the aircraft outside Russia will be undertaken by Irkut and supported by EADS and affiliates including Airbus. The aircraft is in operation with the Russian ministry of disaster relief and Italy’s civil defence force, but EADS says other customers in Mediterranean countries, South-East Asia and the USA have expressed interest in the aircraft.
Johannes Falke, former director of MAPS – a joint venture between EADS, RSK MiG and Rosoboronexport – will manage EADS Irkut Seaplane, which is expected to have around 10 employees by the end of the year.
Source: Flight International
