Helicopter producer, EUR 53 mln contract from the Romanian Defense Ministry

Romania’s Defense Ministry has attributed the helicopter producer IAR Brasov a contract of EUR 53.2 million (VAT included) to repair the IAR-330 Puma Socat helicopters of the Romanian Air Forces. The 3-year contract was awarded through direct negotiation and without any tender, and does not specify the number of helicopters that will be repaired, reports local Profit.ro. The helicopter producer IAR Brasov made a partnership with Airbus Helicopters this year, which has helped it increase its net profit 25 times. IAR’s profit went up from EUR 280,000 in the first nine months of 2014 to EUR 7 million in the first three-quarters of this year on higher revenues. Airbus Helicopters recently started building a new helicopter plant at Ghimbav, close to the central city of Brasov, with a total investment of EUR 40 million. It will produce Super Puma MK1 helicopters there starting 2017. IAR Ghlimbav offered a 27,000 sqm land plot for the new factory and will also be its main supplier. editor@romania-insider.com