AgustaWestland To Supply AW159 Helicopters To South Korea

AgustaWestland has nabbed a contract from South Korea worth $567 million to supply AW159 helicopters for maritime operations.

Part of Italy's Finmeccanica group, the helicopter-maker said the eight helicopters that South Korea has selected are part of a larger procurement program by the South Korean Navy, which includes support and training services.

"This latest success achieved in South Korea, when considering the importance of defense for this country, testifies the relevance of Finmeccanica strategy aimed at performing continued investments for the development of new technology and new products able to meet the most demanding customer requirements," said Giuseppe Orsi, chairman and chief executive officer of Finmeccanica. "We are confident that, thanks to this significant result achieved in South Korea, this model will be able to find further opportunities in other markets".

The AW159 Wildcat is the newest evolution of the legacy of the Lynx helicopter and is used as a utility and anti-submarine warfare aircraft. It has a maximum speed of 181 miles per hour and a range of 420 nautical miles, according to a company statement.

The order for the Wildcat by South Korea is the first export order for the helo the company has received, the statement added. Aircraft deliveries will begin in 2015.