Erickson Air-Crane – EAC – To Acquire Brazilian Oil and Gas Aerial Services Business

Erickson Air-Crane Incorporated (NASDAQ: EAC), a leading operator and the manufacturer of the powerful heavy-lift helicopter, the Erickson S-64 Aircrane, announced that it had entered into a non-binding letter of intent to acquire 14 helicopters and associated personnel and assets from HRT Participacoes em Petroleo, S.A. (HRT).

• Plans Purchase of Air Logistics Business from HRT Participaes em Petroleo, S.A.
• Early Stage Transaction Announcement, Closing Expected in Second Half 2013
• 14 Aircraft Fleet to Position Company as a Leading Air Services Provider in Brazil

The letter of intent is non-binding and, for the acquisition to be completed, requires that EAC provide operational services to HRT in the Amazon, including both cargo and passenger transport, through a three-year, renewable contract.

Udo Rieder, Chief Executive Officer of Erickson Air-Crane, commented, We are very pleased to have identified what we believe is a strong future partner. Were confident that this acquisition can be an excellent path to diversification and growth. Brazil is one of the most dynamic and fastest growing industrial markets in the world and we are uniquely suited to provide our expertise and leverage the full capabilities of this fleet and our investment.

About Erickson Air-Crane Incorporated – EAC

Erickson Air-Crane (EAC) specializes in the operation and manufacture of the Erickson S-64 Aircrane (the Aircrane), a versatile and powerful heavy-lift helicopter. The Aircrane has a lift capacity of up to 25,000 pounds and is the only commercial aircraft built specifically as a flying crane without a fuselage for internal loads. The Aircrane is also the only commercial heavy-lift helicopter with a rear load-facing cockpit, combining an unobstructed view and complete aircraft control for precision lift and load

EAC operates in two segments: Aerial Services and Manufacturing / MRO. Aerial Services offers a range of heavy-lift helicopter services through the Company’s worldwide fleet, including firefighting, timber harvesting, infrastructure construction, and crewing services. Manufacturing / MRO manufactures Aircranes from existing airframes, manufactures new components on a contract basis, and provides customers with Federal Aviation Administration and European Aviation Safety Agency certified maintenance, and MRO services in the Company’s AS9100 certified facility. In October 2012, the Company purchased the Sun Bird Aircraft and associated spare parts inventory and accessories from San Diego Gas & Electric Company.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.