Just 12 weeks after announcing they had signed a memorandum of understanding to establish a joint-venture company to produce AgustaWestland helicopters in Brazil, the two companies have announced their joint decision to terminate negotiations without reaching an agreement.
A brief statement said nothing further about the reasoning behind the decision.
Under the joint venture AgustaWestaland aircraft were to be marketed to commercial and military operators in the region. The two companies said preliminary studies showed strong potential for twin-engine, medium-lift helicopters in the offshore oil and gas market.
AgustaWestaland and parent company Finmeccanica remain embroiled in legal issues following claims Finmeccanica chairman and former AgustaWestland CEO Giuseppe Orsi, and now-former AgustaWestland CEO Bruno Spagnolini were involved in bribery during the negotiation of sales to the Indian Air Force.