Italy's Finmeccanica, parent company of AgustaWestland, said the eight helicopters that South Korea has selected, AgustaWestland AW159s, to meet its maritime 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.
The order for the Wildcat by South Korea is the first export order for the helo the company has received, the company said.
The overall deal with Finmeccanica is worth about $560 million. AgustaWestland's share of the deal is about $359 million.
Aircraft deliveries will begin in 2015.