Mahindra Aerospace looking for strategic investors including OEMs and tier I suppliers

Mahindra Aerospace Pvt Ltd has announced it is looking for a strategic investor, including OEMs and tier I suppliers that will help Mahindra Aerospace Pvt Ltd access both customers and technology. The firm is investing Rs.284 crore in a 20-acre new manufacturing unit at Narsapura in Karnataka for components, assemblies and aerostructures.

Mahindra Aerospace Pvt Ltd already has a 5-acre property in Malur where it's setting up an Rs.35 crore facility. Kotak PE's Kotak India Growth Fund II owns one-third stake in MAPL which has two arms - components, assemblies and aircraft.

Mahindra Aerospace Pvt Ltd is the aircraft and aero-structure manufacturing division of Mahindra Systech. The firm has acquired equipment from the Boeing Aerostructures plant in Melbourne Australia for the Narsapura plant.

In 2010, Mahindra Aerospace acquired a controlling stake in two Australian aerospace companies, Gippsland Aeronautics (Gipps Aero) and Aerostaff Australia, in a joint investment with Kotak PE. Gippsland Aeronautics manufactures aircrafts like GA-8 Airvan, while Aerostaff is into manufacturing of aircraft components. Acquisition of these companies will help Mahindra Aerospace fulfill offset requirements.

Mahindra Aerospace Pvt Ltd has partnered with India’s National Aerospace Laboratories (NAL) on the five seat NM5 utility aircraft, scheduled for its first flight in mid-2011.

Mahindra Aerospace Pvt. Ltd. is a group company of Mahindra & Mahindra Ltd., set up to tap the growth opportunities in India’s Defense and civil aerospace market. Its vision is to grow into a globally recognized Tier-1 company for airframe structural components, sub-assemblies and major assemblies, as well as the development and production of general aviation aircraft.

Together with the aerospace design and defense services offered within the Mahindra group, Mahindra Aerospace offers aerospace OEMs and their major suppliers both, design-to-build and build-to-print services together with our strategic international aerospace industrial partners.

The Mahindra Group is an Indian multinational conglomerate company headquartered at Mahindra Towers in Mumbai, India, with operations in 79 countries across the globe. The group has a presence in aerospace, agribusiness, aftermarket, automotive, components, construction equipment, defense, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail, and two wheelers.

It is considered to be one of the most reputable Indian industrial houses with market leadership in utility vehicles as well as tractors in India. The Mahindra Group has a global presence with operations on every continent except Antarctica.

21 February 2011