Hellenic Aerospace Industry SA (HAI) enhances the business and investments activity among the Balcan countries, by signing, an MOU with Romaero, the biggest aeronautical and defence industry of Romania.

Τhis MOU between the two companies has an horizon of 15 years and a value estimated at about 20 million USD, and includes, as a first phase, transfer to the Romanian company of subcontracting workload on commercial aircraft parts.

The MOU was signed on Thursday, 29 June 2006 between the HAI CEO Mr. Tassos Philippakos and the ROMAERO CEO Mr. Ionel - Dan Vulcan, at the presence of the Ambassador of Romania in Athens Mr. George Ciamba, the Chairman of the HAI BOD Mr. Theodoros Damianos, and the Vice-Chairman of the HAI BOD Mr. Panagiotis Papadakis.
The event honoured by his presence the Greek Minister of Defence Mr. Evangelos Meimarakis.

The benefits deriving from this Memorandum of Understanding are mutual for both the Hellenic and the Romanian company. Specifically, HAI will achieve:

• Improvement  of competitiveness responding at the same time to the customer’s needs
• Delivery rate increase and turnover
• The foundation of an enduring relationship between the two companies for further and mutually beneficial cooperation in the defense and aerospace sector

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