Joint venture in India by Kaman

May 3, 2012 at 4:47 PM
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BLOOMFIELD, Conn., May 3 (UPI) -- U.S. and Indian companies are forming a joint venture to produce advanced composite structures for the aerospace industry and others.

The new company, to be called Kineco Kaman Composites -- India, is being formed by the Kaman Aerospace Group Inc. and India's Kineco Private Ltd., and will be in Goa.

"This is a further step in our group's strategy for our composites business," said Kaman Aerospace Group President Gregory L. Steiner.

"Kineco brings strong local knowledge and business relationships and when combined with our international customer base we anticipate major opportunities in both commercial and defense applications."

The new company's facility in Goa will be comprised of Kineco's existing manufacturing facility, which produces complex composite structures using carbon material and autoclave curing technology.

Kaman Aerospace Group Inc. is a subsidiary of the Kaman Corp.

"This venture is an excellent strategic development for both parties and will allow Kineco and Kaman to accelerate their growth plans and enable us to participate in the global market, including offset opportunities arising from major defense spending by the Indian government," said Shekhar Sardessai, chairman and managing director of Kineco Private Ltd.

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