Bell signs MoU to take stake in IAR
BELL HELICOPTER Textron has signed a memorandum of understanding (MoU) with Romania's State Ownership Fund, laying the ground rules for Bell's planned acquisition of a majority of Romanian aircraft manufacturer IAR Brasov.
The US helicopter manufacturer's takeover of IAR will take effect immediately after the signature of a contract with Romania for the purchase of 96 AH-1W Super-Cobra attack helicopters - to be designated AH-1RO.
The aircraft will use the AH-1W airframe with a weapons and avionics suite to be specified by Romania. Romanian technical evaluators have made a preliminary recommendation to use the existing General Electric T700 engine.
Negotiations between Bell and the Romanian defence ministry will begin in early September, and will be finished by the end of October.
Source: Flight International