Fri, Nov 13, 2009
Aerospace Components To Be Manufactured In India
Sikorsky and Tata Advanced Systems
Limited announced the signing of an agreement creating a joint
venture that will manufacture aerospace components for Sikorsky in
India Thursday. The joint venture agreement builds on a
long-term contract signed in June for TASL to assemble Sikorsky
S-92 helicopter cabins. Some of the cabin components will now be
manufactured by Tata as well.
Both the joint venture agreement and the cabin assembly contract
stem from a Memorandum of Understanding signed in February 2007 by
the companies to explore the creation of aerospace operations in
India. The cabin assembly contract signed in June 2009 has led to
ongoing construction in Hyderabad, in the state of Andhra Pradesh,
where TASL will assemble S-92 helicopter cabins starting in
2010. The new joint venture will be positioned to manufacture
components for other aerospace Original Equipment Manufacturers
(OEMs) as well as detailed parts for the Sikorsky S-92 helicopter
cabin. It is expected that the joint venture operations will be
housed in a second greenfield facility that will be constructed in
Hyderabad, next to the cabin assembly building. Construction for
the joint venture company's facility is targeted for completion by
2011, with production beginning in late 2012. The formation of the
joint venture is subject to the satisfaction of a number of
regulatory and business
conditions.
"Sikorsky's affiliation with Tata
both strengthens our supply chain and extends our globalization
effort to establish significant operations in regions where the
need for rotorcraft and support is great. India is certainly a key
aerospace region, and we are thrilled to team with Tata and help
serve and grow the business there," said Mick Maurer, Senior Vice
President of Operations for Sikorsky.
"We are happy to extend our relationship with Sikorsky to
fabrication of detailed parts for the aerospace sector. This
is part of our strategy to participate meaningfully in this space,
and to enhance India's capacities in this sector," said Gen.
Davinder Kumar, CEO of Tata Advanced Systems.
The joint venture agreement was signed and announced at a
ceremony attended by UTC Chief Executive Officer Louis
Chênevert and Tata Sons Chairman Ratan N. Tata, in addition
to Maurer, Gen. Kumar and other senior executives from the
companies. Chairman Tata and CEO Chênevert both noted their
two companies share much in common and that continuing to build
their relationship will benefit both greatly.
S-92 File Photo
Both Tata and UTC are diversified enterprises with global
operations and well-respected reputations. In 2008, UTC reported
revenues of $58.7 billion, and Tata Group had 2007-2008 revenues of
$62.5 billion. Both groups derive the majority of their revenues
from outside their native countries, and both employ hundreds of
thousands of people worldwide.
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