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Formal Inauguration of Kineco and Kaman Joint Venture

22 January 2013

Kineco and Kaman Aerospace Group have formally inaugurated their joint venture in Goa, India.

The joint venture, a new Company which has been named Kineco Kaman Composites, will manufacture advanced composite structures for Aerospace, Defence, Medical imaging and other industries using the latest carbon fibre materials and autoclave curing technology. It explains that this will include composite structural parts for modern aircraft and helicopters and potentially, parts for spacecrafts.

Kineco’s Advanced Composite Division’s manufacturing facilities and business which has been in existence for the past 7 years has now been assigned to this new joint venture. This facility has already been producing complex composite structures for various industries including Defence and Medical Imaging and this will now be further enhanced with Kaman’s experience in manufacturing Aerospace composites.

The company explains that the upgraded facility was inaugurated on the 8th of January, 2013, by the Honourable Chief Minister of Goa Shri. Manohar Parrikar.

Shekhar Sardessai, Chairman and Managing Director of Kineco Group and Richard Thorley, Director- Strategy & Development, Kaman Aerospace Group in a joint press statement said the following:

“The joint venture between Kineco and Kaman is a unique and a special one and has become a reality based on the strength of a mutually shared vision that will drive the JV to provide outstanding composite structures solutions to our customers around the world. This JV has the potential to become an extraordinary event for the Indian and the Global Aerospace Industry.”

“Kaman adds a scale of global footprint, the best in class practices in design, manufacturing, project and supply chain management and most importantly high standards of corporate governance. Kineco on the other hand brings in well-established and cost efficient manufacturing facilities combined with people’s skill sets. It also brings to the joint venture established relationships with the Indian Defence and Aerospace Industry.”

“The joint venture has put in place a competent leadership team headed by Shekhar Sardessai, as its Chairman and Managing Director and Richard Thorley, who has been named the Chairman of the Management Committee. Mr. Thorley will be full time based in Goa and will serve as an important link in aligning the joint venture operations with Kaman. The other members of the leadership team of the joint venture include Kevin Wright, Senior Vice President, Operations; Dananjay Dodtumkur, Vice President, Strategy and Enterprise Growth and Nagaraj Jantli, Finance Director.”

“The joint venture will initially employ 50 people and based on the anticipated growth plans, will employ over 500 people in the next 3-5 years. In addition to the existing investment in the manufacturing facilities at Pilerne Industrial Estate, the joint venture plans to immediately invest in upgrade and modernisation in the year 2013. In addition, the joint venture strategic plan envisages significant further investment in the latest composite production capabilities over the next 5 years commensurate with growth in its business. The joint venture anticipates major opportunities in the global commercial and defence aerospace market including offset opportunities arising from major Defence spending by India Government. The joint venture will surely put Goa on the global aerospace and defence map. “





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