Kineco-Kaman JV may put Goa on global aerospace map
A Joint Venture between Kineco Private Limited Goa and Kaman Aerospace Group to manufacture advanced composite structure for Aerospace, Defence, Medical Imaging is likely to put Goa on the aerospace manufacturing map for the first time. Boeing, Airbus and other aircraft manufacturers are expected to be their clients
Announcing the Joint Venture, Richard Thorley of Kaman Aerospace and Shekhar Sardessai of Kineco said the JV will invest ten million dollars over the next year into Goa. To start with, the JV will have 50 employees and is likely to hire 500 employees over the next three to five years. The Joint Venture, which has been named Kineco Kaman Composites – India Private Limited, will use the latest carbon fibre materials and autoclave curing technology. This will manufacture composite structural parts for modern aircraft and helicopters and potentially, parts for spacecrafts, the company said in a statement.
“In addition to the existing investment in the manufacturing facilities at Pilerne Industrial Estate, the Joint Venture plans to immediately invest in upgradation and modernization in 2013. It envisages significant future investment in the latest composite production capabilities over the next five years commensurate with growth in its business. The Joint Venture anticipates major opportunities in the global commercial and defence aerospace market including offset opportunities arising from major defence spending by the Indian Government. The Joint Venture will surely put Goa on the global aerospace map,” Richard Thorley said.
Kineco started by a Goan – Shekhar Sardessai was first incorporated in 1994. It was one of the leading composite manufacturing companies with a strong presence and focused on the aerospace and defence industry and functioned from Pilerne. [H]