Partial ownership shift in Hiller's Chinese JV
Hiller (China) Aircraft Manufacturing Company has reached agreement with the Shanxi Xinhaisheng Trade Company for the sale of a 29.4 per cent shareholding in the light utility helicopter manufacturer.
The deal, signed 28 December, comes as Hiller (China) is preparing to roll out its first
locally assembled UH-12 helicopters by late 2009 with production facilities now being ramped up.
The company is in parallel working towards establishment of a production line for airframe components for the UH-12 series.
Hiller (China) was set up in 2007 as a joint venture with the California-headquartered Hiller Aircraft Manufacturing Company.
Hiller holds 40 per
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