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Kineco Kaman expanding manufacturing facility

30 Jan '18

3 min read

Courtesy: Kaman

Kineco Kaman Composites India, a Joint Venture between Goa based Kineco and Kaman Aerospace Group, a subsidiary of Kaman Corporation of USA, is expanding its manufacturing facility at Pilerne Industrial Estate with an investment of Rs18 crores. The facility has been approved by Goa Investment Promotion Board and is likely to be functional this year itself.

The expansion coincides with the fifth anniversary of the company. The expanded facility is expected to be operational by the 3rd quarter of 2018 and will more than double the company’s production capacity. It will create employment opportunities for around 100 people.

Chairman, president and chief executive officer of Kaman Corporation Neal Keating stated: “The success of Kineco Kaman JV in a short span of five years has been extraordinary and has exceeded our expectations. I attribute this success to a mutually shared vision based on commitment to high standards of manufacturing, quality and governance. He added, the success demonstrated by Kineco Kaman and the confidence reposed in its capabilities by our discerning customers has motived us to expand our capacity to meet the growing demands in the emerging Indian aerospace market. I strongly believe that Kineco Kaman with an early mover advantage has built a strong foundation which will go a long way in supporting its growth ambitions and in the process contribute to the economic and employment goals of the State of Goa and India.”

Shekhar Sardessai, chairman and managing director of Kineco Kaman said: “The credit of this success goes to the entire team of Kineco Kaman and the support that it has received from its parents Kineco and Kaman.” He added, “While we have come a long way in achieving success over the last five years, I believe that we have only scratched the surface given the potential that exist in the Indian aerospace industry. The mix of right strategy and appropriate investment from time to time will drive our growth momentum going into the future. As Neal said, we have a mutually shard vision between the partners Kineco and Kaman and I believe it is this alignment that will sustain our success going forward. I also believe that robust governance practices and human capital have been and will be the pillars of our success and we will continue to invest in this resources to run our business in the most efficient, ethical and socially responsible manner.”

Kineco Kaman Composites India has announced successful completion of five years since its formal launch in January 2013. The company manufactures advanced composite structures for aerospace and defence industry at its state-of-the-art facility based at Pilerne Industrial Estate and employees 160 people. Over the last five years the company has made its mark in the Indian aerospace and defence sector supporting the ‘Make in India’ initiative of the Indian Government. (SV)

Fibre2Fashion News Desk – India