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Universal Helicopters of Goose Bay, N.L., announced it has closed an agreement to invest in South Coast Helicopters, headquartered in Fullerton, Calif.
Universal will own a 49 per cent share of South Coast, the maximum investment allowed to a foreign aviation operator under U.S. law
Universal’s investment in South Coast is its first investment in the United States.
“The VFR [visual flight rules] segment is a large market internationally in the helicopter services industry,” said Universal Helicopters president and CEO Shane Cyr.
“Half of the world market is in the United States. This investment opens up that potential to Universal.”
South Coast Helicopters provides services to the motion picture and commercial production industries. It also services clients such as the U.S. Forest Service and NASA.
Universal operates in Newfoundland and Labrador, the Canadian Arctic, northwestern British Columbia, and the Yukon, and serves a variety of clients in government and in the resources industry.
