Axis Aerospace eyes acquisitions
Bangalore, Oct 9 (IANS) Axis Aerospace and Technologies Ltd (AAT) is scouting for acquisitions to expand its offering in engineering services for civil, commercial and defence offset markets.
"As part of our growth strategy, we are actively scouting the market for acquisitions to expand our portfolio and meet growing demands of our global customers," AAT vice-chairman Sudhakar Gande said in a statement here Tuesday.
The city-based company, promoted by Rajya Sabha member and entrepreneur Rajeev Chandrashekar, has recently set up a new facility at Kirloskar Business Park in this tech hub to offer integrated product development services to its marquee customers, including global aerospace major Airbus.
"We have fostered strong ties with marquee firms like Airbus, Bombardier, Catarpillar, DCNS, a French naval shipbuilder, MBRDI (Mercedes-Benz Research and Development India), Premium Aerotec, Thales and Volvo," Gande said.
The company has set up a dedicated offshore development centre with its subsidiary (CADES) to develop fuselage for Airbus, while the new facility will provide solutions, including product development and manufacturing processes for aerospace, defence, automotive and heavy engineering industries.
"Along with our two subsidiaries (Axis IT&T and CADES), we offer a range of solutions in engineering services, embedded systems, avionics, testing, system integration, manufacturing and life-cycle support," Gande pointed out.
As the principal offset partner for global original equipment manufacturers, the company has aligned its services strategically to provide end-to-end solutions.
"We are on track to achieve Rs.500 crore revenue in this fiscal (2012-13), which will be a growth of about 70 percent over the last fiscal (2011-12)," Gande asserted.
The company has 1,500 employees across 10 delivery centres worldwide.
The company plans to set up a 75-acre supply chain cluster in the upcoming aerospace park near the Bangalore international airport at Devanahalli, about 40 km from the city centre, to provide manufacturing and allied support facilities to global aerospace and defence firms.
Read More: Bangalore Royal Challengers IPL | Bangalore Rural | S.v.u. P.g .centre | G.s.t.centre | A.c.company | K.p.centre | Bangalore Gpo | Bangalore City Mdg | Bangalore Corporation Building | Bangalore Fort | Bangalore Dist Offices Bldg | Devanahalli | Dharwad K.c.park | Park Road | Park Town | Betla National Park | B.s.city R.s. | B.s.city Plant | K.r.centre | NIMHANS Bangalore
Israeli air strikes kill at least 18 in Gaza after truce collapse
August 21, 2014 at 12:39 AM
Donetsk residents flee the city as shelling intensifies
August 20, 2014 at 11:21 PM
Memories of German WWI atrocities haunt Belgium
August 20, 2014 at 11:06 PM
Lebanese church distributes aid for Iraqi refugees
August 20, 2014 at 11:00 PM
Survivors enlisted in Sierra Leone's Ebola battle
August 20, 2014 at 10:49 PM
"SOUTH AUSTRALIAN PREMIER LAUNCHES DREAM TEAM 15 (NNIS EXCLUSIVE) "
August 20, 2014 at 9:53 PM