Latest news from Heavy Lift & Project Forwarding International Magazine

Erickson Air-Crane flies in 2012

March 13 - Erickson Air-Crane Incorporated has reported strong revenue and profit growth for its financial year 2012, ending December 2012.

Erickson Air-Crane saw revenue grow 18.4 percent year-on-year over 2011 to USD180.8 million. Operating income doubled to USD33.4 million while its adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) surged by 77 percent to USD44.5 million.

The company is a leading operator and manufacturer of the Erickson S-64 Aircrane heavy lift helicopter. During 2012, the number of flight hours it performed grew 18.9 percent year-on-year to 12,075 hours.

"This was an outstanding year for Erickson," commented Udo Rieder, president and ceo of the Oregon, USA headquartered company.

The company has just signed a binding term sheet and made significant progress towards completing its purchase of the Air Amazonia oil and gas aerial services business from Brazilian based HRT Participacoes em Petroleo.

The binding term sheet replaces the non-binding letter of intent entered into on September 14, 2012. It commits the parties to work in good faith towards making the deal happen, subject to the satisfaction of certain agreed conditions.

Erickson Air-Crane expects to complete the deal during the second quarter of 2013 - significantly ahead of the original schedule.

"We are very excited to have reached this milestone in our efforts to soon expand our presence in the fast-growing oil and gas market in South and Central America through this deal," commented Rieder.

"Our experience in that market has brought us non-seasonal, profitable revenue streams and illustrated significant expansion opportunities. We are grateful for the hard work conducted by teams on both sides of this transaction, which when closed we expect will create significant value for our shareholders," he added.

The total transaction price will be USD65 million to USD75 million, upon meeting certain contractual terms.



www.ericksonaircrane.com
www.hrt.com.br

Heavy Lift | News

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 235
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 593
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 623
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 475

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.