CHC Helicopter receives investment cash


First Reserve Corp has delivered $80 million to fund expansion in CHC Helicopter, balance to follow over next few months

CHC Helicopter has said that its owner, First Reserve
Corp has delivered $80 million against a commitment of an additional $100
million in equity in the global helicopter-services company. The new investment
will fund continued expansion that CHC announced in September.  The investment balance should be made
available in the next two to three months.

“Every indication is that demand for offshore
helicopter services will continue to increase at a very healthy rate,”
said William Amelio, CHC’s president and chief executive officer. “That’s
being driven by the largest part of our business, where oil-and-gas producers
are exploring in and opening up new frontiers, and in developing areas like
search-and rescue and wind-energy generation.”

He continued “The benefits of industry growth
aren’t going to be equally distributed, and we think our leading safety record,
reputation for customer service and extensive global reach together favour CHC.
First Reserve’s additional investment clearly shows it shares our optimism.”