Mahindra Aerostructures signs deal with Segnere SAS
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Bengaluru: Mahindra Aerostructures, a Mahindra Group company, on Tuesday said it has signed an agreement with Segnere SAS of France to collaborate on airframe manufacturing.
Mahindra Aerostructure is a unit of Mahindra Aerospace Pvt. Ltd Its facility near Bengaluru makes and exports parts and sub assemblies.
Segnere operates three production facilities in France and a subsidiary in Tunisia. It specialises in hard metal parts and assemblies for aircraft.
The partnership will help Mahindra expand capabilities to produce hard-metal parts (titanium, inconel and aerospace steels) and collaborate on other technologies, Mahindra said in a statement.
S.P. Shukla, chairman, aerospace and group president, aerospace and defence, Mahindra Group, said Mahindra is continuously looking at opportunities to be closer to its customers and to sharpen its “value proposition.”
The Mahindra group’s strategy for the defence business has largely been inorganic. Over the last two years the group has stitched together several alliances with global engineering and technology firms to strengthen and expand its capabilities in the defence business as the Mahindra Group, like other conglomerates seeks to benefit from the government’s focus on encouraging local manufacture of defence equipment.
Arvind Mehra, executive director and chief executive of Mahindra Aerospace, said the partnership will help the firms to work together to leverage their combined experience and expertise to meet the strategic sourcing priorities of customers. Segnere provides Mahindra a footprint in France while Mahindra provides opportunities to work together in the larger global marketplace. “We are thrilled to partner with Mahindra Aerospace to address our customers’ cost, capability and capacity requirements,” said Jean Michel Segnere, president of Segnere SAS.
The collaboration, said Rahul Gangal, partner at a global consulting firm,Roland Berger is a “positive step forward and improves Mahindra’s standing in winning bigger contracts from foreign original equipment makers.” It would also help in a better utilisation of the Bengalaru facility. In July 2016, Europe’s Airbus Helicopters awarded a contract to Mahindra Aerostructures to make airframe parts for the AS565 MBe Panther military chopper.
Indian government’s offset policy requires foreign military aircraft and defence equipment makers to source 30% of the components locally in the case of contracts worth Rs300 crore or more. A new policy announced last year increased the offset threshold for defence deals to Rs2,000 crore.