Airbus Helicopters boosts stake in Eurocopter Kazakhstan Engineering to 90%

ASTANA. Oct 24 (Interfax) - Airbus Helicopters has increased its stake in Eurocopter Kazakhstan Engineering to 90% from 50%.

"By acquiring a majority stake in our long-standing joint venture, we are reaffirming our commitment to Kazakhstan. Kazakhstan plays a key role for Airbus Helicopters in the Central Asian market, with more than 60 Airbus helicopters in service. We look forward to further expanding our presence in the country and strengthening our close relationship with our customers, in particular the Ministry of Emergency Situations, which operates a fleet of more than 20 H145 Family helicopters for medical evacuation," Airbus Helicopters said in a press release, quoting Thomas Hein, head of Europe at Airbus Helicopters.

The amount and details of the transaction were not disclosed.

Airbus Helicopters said the Kazakh company had been renamed Airbus Helicopters Kazakhstan Engineering.

Eurocopter Kazakhstan Engineering is a joint venture established on a parity basis by NC Kazakhstan Engineering JSC and Airbus Helicopters in April 2011.

The plant sells, assembles and services helicopters and trains technicians in the CIS and Central Asia.