Financial Daily from THE HINDU group of publications
Thursday, Feb 17, 2005
Financial Daily from THE HINDU group of publications Thursday, Feb 17, 2005 |
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Corporate
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Outlook Logistics - Airlines Dynamatic Aerospace on expansion mode Our Bureau
Bangalore , Feb. 16 DYNAMATIC Aerospace, which hopes to emerge as a major vendor to the aviation industry, has embarked on an expansion programme. This is in view of the growing importance of India as a major centre for outsourcing in defence and civil aviation sectors. The company recently opened a facility at Peenya near the city to manufacture airframe structures and precision aerospace components for the prestigious Sukhoi-30MKI. The Su-30MKI is the latest acquisition in the multi-role fighter class of jets for induction into the Indian Air Force. Dynamatic Aerospace, a group company of the Rs 250-crore Dynamatic Technologies, will be a key vendor for Hindustan Aeronautics Ltd (HAL), which will manufacture the Su-30MKI. The company would be eying future projects coming into India for extending expertise in aviation engineering products, said Mr Udayant Malhoutra, President and Managing Director. Dynamatic Aerospace plans to double its production facility to 54,000 sq. ft., as part of its expansion programme in the next one year. The company has spent Rs 12 crore in the last one year for the Su-30MKI and other future projects. India recently acquired the British Hawk and the Advanced Jet Trainer and plans to modernise its combat and support aircraft fleet.
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