BELAGAVI, India, September 8, 2015 /PRNewswire/ --
Hon'ble Defence Minister of India, Manohar Parrikar inaugurated this aerospace machining facility located in Aequs SEZ at Belagavi, India. Aequs plans to invest USD 50 million over next five years and create employment for 1000 professionals. With this new facility, Aequs further strengthens its position as the largest aerospace machining company and one of the largest suppliers to Airbus for machined parts in India.
Aequs Aerospace, today inaugurated its state-of-the-art 100,000 sq.ft. aerospace machining facility at Aequs Special Economic Zone (SEZ), Belagavi, India. Hon'ble Defence Minister of India Manohar Parrikar inaugurated this facility in the presence of other dignitaries and delegates from Airbus Group. This facility was purpose-built to manufacture aerospace machined components and sub-assemblies for Airbus Group.
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Aequs plans to invest USD 50 million in this facility over the next five years, which is expected to generate employment for over 1000 skilled professionals during the period. When operated at peak capacity, this facility will be able to generate revenue of USD 75 million per annum. This facility has capacity for 150 advanced CNC machines making it one of the largest aerospace machining facilities in India.
Commenting on the occasion, Aravind Melligeri, Chairman & CEO, Aequs, said, "This aerospace machining facility underscores our commitment to the global aerospace industry and Airbus Group. Airbus has been a key customer for Aequs and I am confident that this new facility will further benefit Airbus' global aerospace supply chain."
Addressing the inauguration event, Defence Minister of India, Manohar Parrikar, said, "I am delighted to see Indian companies creating value in the global aerospace industry and supporting the Make in India initiative. There is great opportunity in defence sector procurement. With the revised offset policy, both Indian and foreign investors will benefit from technology transfer opportunities as well as the ability to form joint ventures in support of India defence procurement projects."
Olivier CAUQUIL, Senior Vice President Material & Parts Procurement, Airbus, said, "We are proud to claim that today every Airbus aircraft is partly made in India and we fully support the 'Make in India' campaign. This state of the art aerospace machining facility dedicated to Airbus represents a significant milestone in our journey with Aequs and in growing our Indian industrial co-operation footprint for the long term. Aequs has been a strategic partner for us in India and we applaud their ability to bring this manufacturing capability to the country."
Commenting on the event, Satish Jarkiholi, Hon'ble Minister Govt. of Karnataka, said, "Aequs is on the right track to becoming a global company and I am happy to see they are taking Belagavi to the world."
About Aequs Aerospace
Aequs Aerospace is a wholly-owned subsidiary of Aequs Private Limited and specializes in precision machining, sheet metal fabrication, assembly, forging, and special processing for major OEMs and Tier 1 customers. Aequs Aerospace is headquartered within the Aequs Special Economic Zone located at Belagavi, Karnataka, India. The parent company, Aequs, provides precision engineering products for the aerospace, automotive, and oil & gas industries from its facilities in Belagavi, Bengaluru in India and Paris & Houston in Texas, US.
For more information, please visit: http://www.aequs.com.
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