LE BOURGET, Paris, June 18,
2015 /PRNewswire/ --
Magellan Aerospace ("Magellan")
announced today the signing of a Memorandum of Understanding (MOU)
with Mahindra Aerospace ("Mahindra"), an Indian-based aerospace
manufacturing company, to develop a partnership
agreement. This agreement will provide the framework for the
two companies to offer their mutual customers major structural
assemblies, machined components and fabrications for the global
market. This agreement supports our customer's strategy to develop
supply from India.
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The Magellan / Mahindra MOU responds to the needs of our
customers, who were seeking a solution to support larger work
packages in India. Under the terms
of the agreement, Magellan and Mahindra will develop a framework to
partner on jointly responding to and developing new aerostructures
business opportunities. Magellan will manufacture and supply large,
complex machined components from its European and North American
facilities, supported by detailed machined parts from Magellan's
existing Indian joint ventures, API and Triveni. Mahindra will lead
in providing sheet metal and the fabricated detailed parts to
support these assemblies. Mahindra will also develop a major
structural assembly capability at its Bangalore-based facility.
Mr. Haydn Martin,
Magellan's Vice President Business Development,
Europe said, "We believe this
partnership capitalizes on the established technical experience of
Magellan, with Mahindra's emerging Indian capabilities, to deliver
a unique, cost-effective solution to support our global customer
base."
Mr Stephen Roebuck,
Mahindra's Director, Business Development -
Aerostructures commented, "This new agreement allows us to
accelerate the development of a major new aerospace structures
capability in India and to provide
cost effective solutions to the global aerospace industry."
About Mahindra Aerospace
Mahindra Aerospace has led the Mahindra Group's foray into
utility aircraft and aerostructure manufacturing since 2008. Its
utility aircraft business, based in Australia, currently produces the Airvan 8,
the most capable, rugged and versatile utility aircraft in its
class. Certified in 38 countries, over 200 are in service. Mahindra
Aerospace is also developing a 10-seat turboprop, the Airvan 10,
which is scheduled for certification in 2015.
The Aerostructures business operates out of a new 25,000 sq. m.
facility located at the Narsapura Industrial Estate, about 40 km
east of Bengaluru city, India's
primary aerospace manufacturing center, with excellent access to
international air- and sea-ports. The facility possesses a
comprehensive suite of capabilities to manufacture sheet metal
parts and assemblies, such as CNC routing, automatic deburring,
brake-press forming, stretch forming, hydro-forming, heat
treatment, a fully-automated surface treatment line and over 9,000
sq. m. of floor space dedicated to assembly work. Inaugurated in
2013, the facility is certified to demanding Airbus specifications
as well as aerospace industry-standard requirements such as AS9100
Rev C and NADCAP.
Visit us at www.mahindraaerospace.com or email us at
aerostructures@mahindraaerospace.com, aircraft.sales@mahindraaerospace.com
for more details on Mahindra Aerospace, its Aerostructures
offerings and its aircraft product range.
About Mahindra
The Mahindra Group focuses on enabling people to rise through
solutions that power mobility, drive rural prosperity, enhance
urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational
group based in Mumbai, India,
Mahindra provides employment opportunities to over 200,000 people
in over 100 countries. Mahindra operates in the key industries that
drive economic growth, enjoying a leadership position in tractors,
utility vehicles, information technology, financial services and
vacation ownership. In addition, Mahindra enjoys a strong presence
in the agribusiness, aerospace, components, consulting services,
defense, energy, industrial equipment, logistics, real estate,
retail, steel, commercial vehicles and two wheeler industries.
In 2014, Mahindra featured on the Forbes Global 2000, a
comprehensive listing of the world's largest, most powerful public
companies, as measured by revenue, profit, assets and market value.
The Mahindra Group also received the Financial Times 'Boldness in
Business' Award in the 'Emerging Markets' category in 2013.
Visit us at mahindra.com
About Magellan Aerospace
Magellan Aerospace is a global, integrated aerospace company
that provides complex assemblies and systems solutions to aircraft
and engine manufacturers, and defense and space agencies worldwide.
Magellan designs, engineers, and manufactures aeroengine and
aerostructure assemblies and components for aerospace markets,
advanced products for military and space markets, industrial power
generation, and specialty products. Magellan is a public company
whose shares trade on the Toronto Stock Exchange (TSX: MAL), with
operating units throughout Canada,
the United States, the
United Kingdom, India, and Poland.
Forward Looking Statements
Some of the statements in this press release may be
forward-looking statements or statements of future expectations
based on currently available information. When used herein, words
such as "expect", "anticipate", "estimate", "may", "will",
"should", "intend", "believe", and similar expressions, are
intended to identify forward-looking statements. Forward-looking
statements are based on estimates and assumptions made by the
Corporation in light of its experience and its perception of
historical trends, current conditions and expected future
developments, as well as other factors that the Corporation
believes are appropriate in the circumstances. Many factors could
cause the Corporation's actual results, performance or achievements
to differ materially from those expressed or implied by the
forward-looking statements, including those described in the "Risk
Factors" section of the Corporation's Annual Information Form
(copies of which filings may be obtained at http://www.sedar.com).
These factors should be considered carefully, and readers should
not place undue reliance on the Corporation's forward-looking
statements. The Corporation has no intention and undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
For further enquiries please
contact:
Sunil Gate
General Manager, Group Communications
Mahindra and Mahindra Ltd.
Phone: +91(22) 2491 6633
Mobile: +91 98230 93000
Email:gate.sunil@mahindra.com
Mr. Daniel Zanatta
Vice
President, Business Development Europe
Marketing and Contracts
Magellan Aerospace
Ph. 001 646 708 1234
Mr. Haydn Martin
Vice President, Business Development,
Magellan Aerospace
Ph. +44(0)7734501134