UK Government confirms £22 million loan to AgustaWestland

AgustaWestland, a Finmeccanica company, announced the launch of UK involvement in the AW169 commercial helicopter programme with the support of a £22 million loan by the Department of Business, Innovation and Skills. Bruno Spagnolini, CEO, AgustaWestland said following the announcement, “Today marks the beginning of a new era for our Yeovil factory and for its UK supply network. We are confident that the AW169 will be a great success in the market place and now every AW169 helicopter sold will incorporate key rotorcraft technologies developed in the UK and critical helicopter systems manufactured in the UK.” Ray Edwards, Managing Director, AgustaWestland said, “The start of AW169 commercial helicopter work at AgustaWestland’s Yeovil factory is a central element of AgustaWestland UKs diversification strategy to protect and grow the skills and capabilities required for a strong helicopter industry in the UK. The AW169 design and development work will mainly take place over the next three years with deliveries to customers starting in 2015.”