Financial Daily from THE HINDU group of publications
Saturday, Feb 04, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 04, 2006 |
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Logistics
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Airlines SAFRAN charts long-term plans for Indian market Our Bureau
Bangalore , Feb. 3 EUROPEAN aerospace major SAFRAN has said it has long-term plans for the Indian market, with focus on the defence sector. During 2005, SAFRAN expanded its Indian presence by setting up R&D centre facilities and doubling its workforce, the company said in a release. SAFRAN and its four subsidiaries - Turbomeca, Sagem DS, Microturbo and Vectronix - are participating in the ongoing DEFEXPO-2006. The company has recently set up two Indian entities - its 100-per cent subsidiary TTII (Turbomeca Turbochargers Industrial India) and a 50:50 joint venture, Snecma-HAL Aerospace Pvt Ltd - to develop the Shakti engine with HAL for the Dhruv helicopter. It also acquired ORGA, a leader in security, which has two Indian subsidiaries specialising in SIM and smart cards. Mr Francois Courtot, VP, International Affairs, said, "SAFRAN internationally has had a tradition of developing high technology products through its partnerships across the globe. We have now brought this tradition to India through our acquisitions and joint venture with HAL. The expansion of our R&D facilities and expansion of workforce reflects our long-term commitment to the Indian market and a profitable growth outlook for SAFRAN." Mr Vincent Gorry, National Executive - South Asia, said, India was one of SAFRAN's priority markets. "The upgradation of our R&D centre in Bangalore will enable SAFRAN in controlling the entire life cycle of products ranging from design to service and consultancy support."
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