×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Wipro to manufacture aerospace actuators, to invest $15 mn

Wipro to manufacture aerospace actuators, to invest $15 mn
Comment E-mail Print Share
First Published: Wed, May 25 2011. 07 38 PM IST
Updated: Wed, May 25 2011. 07 38 PM IST
Bangalore: Wipro Infrastructure Engineering (a division of Wipro Ltd) announced on Wednesday that it has signed an agreement with Spanish company CESA (Compania Espanola De Sistemas Aeronauticos S.A.) for the manufacture of precision-engineered components, specifically hydraulic actuators, for the aerospace and defence sector.
CESA is a subsidiary of the Aerospace and Defence Corporation, EADS. The agreement involves transfer of technology as well as manufacturing workload from CESA to Wipro, the company said in a statement.
Pratik Kumar, president, Wipro Infrastructure Engineering (WIE ) said: “We shall be investing about $ 15 million in the initial phase in establishing a greenfield venture for the manufacture of these components in the new SEZ for Aerospace being set up at Devanahalli by the Karnataka Government. Our plan is to start serial production towards the end of 2012.”
He expects the business to contribute 25 % to the division’s revenues in five years time.. Wipro does not report segmental revenue for the WIE division, except to say that it is less than 10 % of Wipro Ltd’s revenues.
Comment E-mail Print Share
First Published: Wed, May 25 2011. 07 38 PM IST