July 23 - Oregon, USA headquartered Erickson Air-Crane has signed a definitive purchase agreement for Brazil based Air Amazonia Servi
Air Amazonia is the aviation services division of HRT Participações em Petróleo S.A. (HRT), and the deal includes a fleet of six aircraft and ground facilities. Erickson Air-Crane expects the deal to close in the third quarter of 2013.
"This is a significant step in our strategy of continuing our expansion into the South American oil and gas market," said Udo Rieder, chief executive officer of Erickson Air-Crane.
Erickson will pay USD23 million for the Air Amazonia business, and a further USD3 million within twelve months dependent on certain performance milestones.
In conjunction with the acquisition, Erickson will enter into a five-year aerial services contract with HRT to provide rotary-wing aircraft services to support its oil and gas activities in the Solimoes, Brazil region.