Sikorsky Aircraft to acquire PZL Mielec

 - January 24, 2007, 9:15 AM

Sikorsky Aircraft of Stratford, Conn. has agreed to acquire Polish aircraft maker PZL Mielec, which will form the foundation of Sikorsky’s European operations. Sikorsky and the Polish government announced the contract during a ceremony in Warsaw on January 10.

Under the agreement, Sikorsky will acquire a 100-percent stake in the company, which is based in the city of Mielec. The transaction is subject to regulatory approval and pre-closing conditions. According to a Sikorsky spokesman, the deal is worth more than $83 million and includes the share price as well as the value of Sikorsky investments over five years.

With 1,500 employees, PZL Mielec is Poland’s largest fixed-wing aircraft manufacturer. Last year Sikorsky announced plans to develop an International Black Hawk helicopter variant for global customers that would be manufactured using a global supply chain. Upon completion of this acquisition Sikorsky plans to modernize the 1.2 million-sq-ft factory and tooling facility at Mielec to support International Black Hawk production and continue the current capability for aircraft design, manufacture, flight test and delivery, the spokesman said.

The Sikorsky spokesman told AIN that PZL Mielec possesses “a wide array of aerospace design, engineering and manufacturing capabilities that are applicable to rotary-wing activities.” The cabin of Mielec’s twin-engine Skytruck is quite similar to a Black Hawk cabin, he said, noting that Mielec will also be used as a second source for U.S. Army Black Hawk cabins to meet expected production growth, with first deliveries planned for next year.