Canadian Helicopters Buys New Zealand’s HNZ

 - April 26, 2011, 8:30 AM

The global march toward consolidation of helicopter oil and gas production services companies appears to be continuing. Last month Canadian Helicopters Group announced it is buying Helicopters New Zealand (HNZ) for C$120 million. HNZ operates 33 helicopters from bases in New Zealand, Australia, Laos and Cambodia on behalf of global oil and natural resource exploration companies and various government agencies. Last year the company had revenues of C$62 million.