Defence and security company Saab and its Indian partner QuEST Global Manufacturing have established a joint venture to manufacture and supply assemblies for the commercial aero-structures market.
The joint venture, in which Saab holds 26 per cent, will further strengthen Saab’s position in the commercial aero-structures market and increase its presence in India.
The Swedish giant develops, industrialises and manufactures complex airframe assemblies for leading aircraft manufacturers such as Airbus and Boeing.
The new company and its manufacturing operations will be located in Belgaum, Karnataka, where QuEST Global has developed a fully operational Special Economic Zone. Facilities for the joint venture will be built in 2013.
Initially, it will have 50 employees, though that number is expected to grow to 400 in the coming years, a press release from Saab said.
“We anticipate increased production rates during the coming years. This partnership will provide a cost-efficient and reliable source of assemblies, acting as a complement to Saab’s in-house manufacturing”, said Lars Jensen, Vice-President, Finance and Programmes within the aero-structures unit of Saab’s business area, aeronautics.
Aravind Melligeri, Co-Founder and Chairman of QuEST Global, said: “This joint venture with Saab represents a major step towards the further development of our aerospace ecosystem within the SEZ at Belgaum”.