Bangalore-based Rs 385 crore Maini Group is scouting for partner to form a joint venture (JV) company for its proposed foray into aero structures among other components. The Group already has presence in the aircraft components and precision engineering products.
“We are currently manufacturing a variety of precision components and sub-structures and supplying to several Tier-I companies and original equipment manufacturers from our existing facility in Bangalore. We are now in talks with several global makers of aero structures to form a joint venture company,” Sandeep Kumar Maini, Chairman, Maini Group. He said the company is also planning to set up a new manufacturing plant in Bangalore to manufacture aero structures.
The company has identified several companies in Europe and the US for a possible partnership for its foray into aero structures, he said adding that the company aims to form a joint venture company over the next 18 months to two years. The company is already in possession of land at Nelamangala on the outskirts of Bangalore where it plans to set up a new manufacturing facility. “We will know the exact amount of investment required for setting up the new facility and the total investment for the joint venture company once we conclude the deal with our Joint Venture partner. We are also looking for a technology tie up from our JV partner,” Maini Group Chairman said.
