BELAGAVI, India, February 2, 2016 /PRNewswire/ --
Aequs has achieved another milestone by acquiring France-based SiRA Group to further extend the reach of its global aerospace ecosystem. SiRA Group brings another key element to Aequs' expanding aerospace manufacturing capabilities as well as regional proximity to its key customers in Europe. The new company will be a part of Aequs Aerospace holdings in France.
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SiRA Group, operating across five sites, employs over 300 people and offers highly regarded expertise in the areas of precision machining, assembly, and testing of engine, landing gear, and aircraft actuation components, as well as welding and fabrication of aircraft assemblies. Key customers of the new company include Dassault, Safran (multiple divisions) and United Technologies Aircraft Systems.
"The acquisition of SiRA brings highly complementary capabilities to our Global Aerospace Ecosystem along with opportunities to expand our relationship with our key customers in Europe," said Walt Sirmans, Aequs Aerospace President. He further added, "Expanding our value chain and local/global reach in France, combined with our facilities in Texas and India, provides for significant value creation and strategic customer accessibility."
In 2015, Aequs became the first Indian aerospace manufacturing company to expand into North America when it acquired Texas-based T & K Machine. Aequs Aero Machine based in Paris, Texas along with the new sites of Aequs Aerospace SAS, firmly anchors Aequs' global growth in aerospace.
Xavier Dessemond, Purchasing Vice President for Safran commented, "SiRA is a long time supplier of Safran, developing significant business over the years with most Safran affiliates. With this acquisition, Aequs becomes a key partner of Safran, providing us the possibility to have access to a global industrial footprint, a strong presence in India, and complementary technical capabilities across the value chain for mechanical parts."
Aravind Melligeri, Chairman and CEO of Aequs noted, "The acquisition of SiRA strengthens Aequs' ability to deliver increasing value to our European customers with strong collaboration between our India and France operations."
Commenting on this strategic transaction, Alain Blévin, majority shareholder and President of SiRA Group remarked, "This is a strategic step that will significantly enhance the future growth of the SiRA operating units. Aerospace is an increasingly globalized industry and SiRA will now be better able to adapt to its major client's expectations with the global offering built by Aequs."
About Aequs:
Aequs is among India's fastest growing precision engineering companies specializing in precision machining, sheet metal fabrication, assembly, forging and special processing for the aerospace, automotive, and oil & gas industries. The company's customers include global industry leaders such as Airbus, UTAS, Bosch, Eaton, Baker Hughes and Halliburton. Aequs operates several manufacturing facilities in India, US and Europe. The significant facilities are located in the Aequs SEZ, Belagavi, India's first integrated precision engineering ecosystem.
Visit http://www.aequs.com for more details.
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