Erickson Air Crane acquires Brazilian business
Dec. 3, 2012, Portland, Or. - Erickson Air-Crane Incorporated, a leading operator and the manufacturer of the powerful heavy-lift helicopter, the Erickson S-64 Aircrane, has entered into a non-binding letter of intent to acquire 14 helicopters and associated personnel and assets from HRT Participacoes em Petroleo, S.A. (HRT).
The letter of intent is non-binding and, for the acquisition to be completed, requires that EAC provide operational services to HRT in the Amazon, including both cargo and passenger transport, through a three-year, renewable contract.
Udo Rieder, Chief Executive Officer of Erickson Air-Crane, said, "We are very pleased to have identified what we believe is a strong future partner. Were confident that this acquisition can be an excellent path to diversification and growth. Brazil is one of the most dynamic and fastest growing industrial markets in the world and we are uniquely suited to provide our expertise and leverage the full capabilities of this fleet and our investment."