labels: aerospace
Sikorsky acquires pioneering Polish aircraft firm PZL Mielecnews
17 March 2007

Stratford, USA: Sikorsky Aircraft Corp has announced the completion of its acquisition of Polish aircraft maker PZL-Mielec from the Polish government. According to an acquisition agreement, signed in December 2006, Sikorsky had acquired a 100 per cent stake in the company. Polskie Zaklady Lotnicze-Mielec, which is Poland's largest fixed-wing manufacturer, has approximately 1,500 employees on its rolls.

PZL Mielec was previously wholly owned by the Industrial Development Agency, known by its Polish acronym ARP, a government holding company under the ministry of treasury.

"This is a major step toward establishing the foundation for our European operations," said Jeffrey Pino, Sikorsky's president. "Mielec will be a key component of Sikorsky's long-range global strategy to meet worldwide demand for its products and services. This acquisition draws upon Poland's great aerospace heritage and expertise and unites two pioneering aerospace companies into an even stronger world-class aircraft manufacturer and service provider."

Sikorsky's interest in PZL is also linked to its international Black Hawk helicopter production. In 2006, Sikorsky announced plans to develop an international Black Hawk helicopter variant for global customers. It had said then that the international variant would be manufactured using a global supply chain.

With the completion of the acquisition, PZL's 1.2 million square foot facility will now undergo modernization, due to begin in April 2007, to support this programme.

Sikorsky has also said that PZL's current capabilities for aircraft design, manufacture, flight test and delivery would continue to be respected.

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Sikorsky acquires pioneering Polish aircraft firm PZL Mielec