AV eyes Świdnik

Czech Republic-based Aero Vodochody (AV), the largest producer of jet training aircraft in the world, has announced its intention to take part in the privatization of Polish helicopter manufacturer PZL-Świdnik. This move is part of its strategy for development in the CEE region.

PZL Świdnik is the last large state-owned company to be privatized in the aviation industry. The Industrial Development Agency (ARP), which owns 86 percent of PZL Świdnik, wants to sell its stake by the end of this year for about zł.600 million, according to Gazeta Wyborcza.

AV's strategy for PZL Świdnik envisions increasing the firm's share in the aviation market and building its strength in the component manufacturing sector.

"We see enormous potential in PZL-Świdnik," Igor Hulak, the president of Aero Vodochody, told media. He added that the two companies had much in common, including their histories, which would enhance the potential for cooperation.

AV is also working to acquire two Romanian aviation companies, Avioane Craiova and IAR Brasov.

Last year the company earned an $18-million operational profit on revenues of $273 million. It expects $33 million in profit and $353 million in revenues in 2008.