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Mahindra Aerostructures awarded contract by Saab

Posted On: 2017-02-16 19:56:13

Saab has awarded a long-term contract to Mahindra Aerostructures for the supply of sheet metal components for Airbus door assemblies. The components include skins and detail parts that will be produced by Mahindra in their facility near Bengaluru. The parts will be shipped to Saab facilities in Sweden for integration into door assemblies for the single-aisle program.

Saab Aerostructures, part of the SEK 27 Bn Saab Group, is a leading Tier 1 in the global aerospace industry and a design-to-build partner to OEMs on several major aircraft programs. Saab is also one of first in the A&D industry to recognize the growth potential for India sourcing, and they have already developed a strong supply chain in India to support various programs. Mahindra Aerospace has played an important role in this supply chain.

Mahindra Aerostructures, part of the Mahindra Group, operates a 25,000 sq. m. manufacturing facility near Bengaluru. Having started commercial deliveries in January 2015, the business is on a steep ramp-up and is exporting detailed parts, sub-assemblies and primary structural components to its customers worldwide.

Mahindra's aerostructures relationship with Saab began two years ago and has gradually grown into a larger strategic conversation across multiple potential domains within the A&D space.

Speaking on this relationship, Mr. S P Shukla, Chairman, Mahindra Aerospace, and Group President-Aerospace & Defence, Mahindra Group, stated, "Saab and Mahindra share many common touch points across our aerospace and defence interests. I am confident that this long-term award to our aerostructures business will be one among many long-term relationships between our two groups".

"Saab Aerostructures was one of our very first customers and we greatly appreciate the faith they placed in us so early in our journey," observed Mr. Arvind Mehra, Executive Director & CEO of Mahindra Aerospace (parent of Mahindra Aerostructures). "Our relationship is growing at operational as well as strategic levels, and we are thankful to Saab for their confidence in us and are privileged to work with them on this package of large, complex parts."

"This contract award is further evidence of Saab's commitment to work in India and partner with performing Indian companies. We chose Mahindra Aerostructures for their ability to create solutions and work with our supply chain requirements to provide best value to our customers," explained Mr. Lars Jensen, Managing Director, Saab Aerostructures.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.1316.35 as compared to the previous close of Rs. 1301.35. The total number of shares traded during the day was 108938 in over 4139 trades.

The stock hit an intraday high of Rs. 1320 and intraday low of 1301.6. The net turnover during the day was Rs. 142805011.

Source: Equity Bulls

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