March 13, 2015 / 11:59 AM / in 3 years

Airbus helicopters to sign South Korean deal March 16: sources

PARIS (Reuters) - Airbus Helicopters AIR.PA is slated to sign on Monday a contract worth around $3 billion for the development and production of military and civil helicopters in South Korea, sources close to the matter said on Friday.

Airbus Helicopters Chief Executive Guillaume Faury poses next to a model of the EC175 after a news conference in Paris, January 28, 2014. REUTERS/Charles Platiau

The Airbus Group division was sole in the running in talks with Korea Aerospace Industries (KAI), the main South Korean procurement consortium, after other contenders Bell Helicopter, a unit of Textron TXT.N and AgustaWestland of the Finmeccanica SIFI.MI group were ditched, French media had said.

“The signing will take place on Monday at 1100 am in Seoul”, one of the sources said.

Airbus Helicopters declined to comment.

Reporting by Cyril Altmeyer; Writing by Dominique Vidalon; Editing by Ingrid Melander

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