Business Daily from THE HINDU group of publications
Wednesday, Nov 05, 2008
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Business Daily from THE HINDU group of publications Wednesday, Nov 05, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook UTC scouts for aerospace suppliers Madhumathi D.S. Bangalore, Nov. 4 Aeroengines to air-conditioning systems major United Technologies Corporation expects to see its India sales figure double to $1 billion – around Rs 5,000 crore – in the next 2-3 years, the current global crunch notwithstanding. The numbers will come from all its seven diverse arms which are in an aggressive growth track in the country, said UTC’s President & CEO, Mr Louis Chênevert. The aerospace business largely through engines arm Pratt & Whitney accounts for 40 per cent of the sales in the country. Mr Chênevert, on his first visit as CEO, opened an Aerospace Supply Management office in Bangalore, and is addressing 43 current and potential aerospace suppliers on Wednesday. After tapping software and engineering solutions from Wipro, MindTree, HCL and Quest, UTC is now turning to manufacturing companies to be part of its global supply chain for its aeroengines and helicopters, he told a small media group. “Total 2007 India revenues for UTC were 33 per cent higher than in 2006 and we expect India revenues to exceed half-a-billion dollars (around Rs 2,500 crore) for the first time in 2008,” an advance media note quoted him as saying. He said UTC’s global 2008 revenues would touch $60 billion. Mr Chenevert said he saw momentum rather than any slowdown in the country at present. Its employee pool has grown from 3,000 to 4,000 in two years. “India continues to grow in importance to UTC businesses, whether it is Otis elevators, Carrier air-conditioners, Sikorsky helicopters, Pratt &Whitney aircraft engines, UTC Fire & Security products or UTC Power equipment,” he said. UTC holds 15 per cent stake in Hyderabad-based engineering solutions company, Infotech Enterprises. Another key associate is defence public sector major Hindustan Aeronautics Ltd, which supplies aeroengine components to P&W. UTC is looking for Indian vendors of aerospace components for jet engines through P&W and for the Boeing 787 contract of Hamilton Sundstrand, Mr Chenevert said. He did not reveal details of investments or sourcing to be done, except to say the new office would find the right partners who would be in its global aerospace supply chain for 20-30 years. Mr Jothi Purushotaman, UTC’s Vice-President, Operations, said 14 Indian aerospace companies currently supplied to UTC and this number would double. L&T, Tata Group and TW Metals are among them. UTC is also in the race to supply military aircraft engines to power the 129 fighter aircraft that the Air Force plans to buy, if the IAF chose Lockheed Martin’s F-16s. Aircraft majors Lockheed Martin, Boeing IDS, SAAB, MiG and EADS are competing for the fighter bid. Pratt says it has 75 per cent of the country’s airline engine and repair market in India through the Boeing fleets of Air India, Blue Dart and partly Kingfisher. The 14-seater Saras aircraft will fly on PT6A turboprop engines. P&W also looks to co-develop the Kaveri engine that will go into the indigenous light combat aircraft Tejas. More Stories on : Outlook | Science & Technology
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