Rocky Mountain Helicopters Inc. has formed a subsidiary out of its heavy lift division which will operate as RMH Aerologging Inc.

The company said the move comes as a result of the division's third- quarter performance. Earnings came in well under projections."Forming the subsidiary will better reveal the source of the earnings and more correctly assign expenses, while determining the subsidiary's impact upon the company's overall operating costs," said James Burr, president.

Burr noted RMH Aerologging's new status also sets the stage for future divestiture should operations warrant such a move.

Logging contracts in Alaska and Idaho currently require use of RMH's full heavy lift fleet.