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Erickson Air-Crane Inc Closes Previously Announced Acquisition Of HRT Participacoes em Petroleo S.A's Air Amazonia Servicos Aeronauticos Ltda


Wednesday, 4 Sep 2013 08:30am EDT 

Erickson Air-Crane Incorporated announced that the completion of its previously announced acquisition of Air Amazonia Servicos Aeronauticos Ltda ("Air Amazonia") and certain related assets from HRT Participacoes em Petroleo S.A. (HRT). The final terms of the acquisition, which provides Erickson with a five-year aerial services agreement (including annual renewals) with minimum revenue of $29 million per year and significant operating infrastructure in Brazil, including six new aircraft, two ground facilities, 59 new employees, and repair station certification, were unchanged from those described in the July 22, 2013 announcement of the definitive agreement. In addition, Erickson will have a right of first refusal to purchase any or all of HRT`s remaining eight aircraft over the next twelve months as well as the right of first refusal on all helicopter services in Brazil from HRT. 

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13.81
0.22 +1.62%
11:13am EDT