Karnataka-based Aequs has gained a contract from Airbus, the world’s largest plane producer, to produce essential components for wings and fuselage. Aequs didn’t disclose the worth of the deal.
The contract demonstrates the nation’s rising significance as a worldwide aerospace manufacturing hub and deepens Airbus’ ‘Make in India’ marketing campaign, a press release mentioned. The contract was signed by Gunnar Hansen, Head of Strategic Procurement and Elements Detailing at Airbus Aerostructures; Niels Witt, Chief Procurement Officer, Airbus Aerostructures, and Mohamed Bouzidi, Head of Aviation, Aequs in Belagavi, Karnataka.
Aequs will manufacture components for the wings, fuselage and towers of the Airbus A320, A330neo and A350 plane for 10 years.
“We’re proud to face alongside the world’s largest plane maker as a long-term strategic accomplice,” mentioned Aravind Meligiri, Chairman and CEO of Aequs. “Additionally it is a testomony to the belief in Aequs by world OEMs (unique tools producers) to enter right into a deeper and longer relationship, particularly at a time when the worldwide provide chain goes via a recalibration course of.
Aequs has been a long-standing provider to Airbus, for which it was its first OEM buyer. The Indian firm, which has different world airways as prospects, mentioned it has been a most popular element components (D2P) accomplice of Airbus for greater than a decade.
Airbus was the primary OEM to acknowledge Aequs’ imaginative and prescient of constructing an area ecosystem in India. It acknowledged the distinctive worth proposition that the Aequs Aerospace SEZ in Belagavi provided to prospects, the assertion mentioned.
Aequs raised $54 million (Rs 448 crore) in October in a contemporary spherical of fairness funding led by Singapore-based Amansa Capital, bringing on board 5 new traders.
Aside from Amansa, the spherical included main world funding agency Steadview Capital, Catamaran, the household workplace of Infosys founder NR Narayana Murthy, Sparta Group LLC, funding workplace Desh Deshpande, and different retail traders. This follows an earlier Rs 225-crore spherical in April 2023 led by Amicus Capital, which additionally participated within the present spherical via its associates.
(Tags for translation)Aerospace