Infotech Enterprises - HAL to offer engineering services to aerospace sector

Infotech Enterprises Ltd has announced that Hindustan Aeronautics Ltd (HAL) and the Company have formed a joint venture (JV) Company to offer world class engineering design services for the aerospace sector. The JV, an independent business entity, will mainly focus on aero-engines, technical publications and anticipated work from various OEMs under the offset programs. HAL and the Company would be 50:50 partners in this venture.

Dr. B V R Mohan Reddy, Chairman and Managing Director of the Company said that Infotech and HAL have, over the years, built significant strengths in the aerospace sector. "This JV will open a plethora of opportunities to provide comprehensive engineering services to customers in the aerospace sector Increasingly customers across the globe are looking for comprehensive solutions from a single vendor. The JV will be in a position to pitch for complete system-level solutions," Dr. Reddy said

Under the agreement, the Company and HAL will continue to serve their strategic customers within their respective Companies. The Company's relationship with UTC will not form part of this JV and HAL's strategically sensitive military projects will also not form part of this JV. The partner Companies would also transfer some of their personnel to the JV.

Source : Equity Bulls

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