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Mahindra Aerostructures signs MoU with France's Segnere

Posted On: 2017-02-15 21:16:13

Bengaluru-based Mahindra Aerostructures and France-based Segnere SAS have signed a Memorandum of Understanding (MoU) to collaborate on airframe manufacturing opportunities and to support each other's growth in capabilities to meet changing requirements for the global aerospace market.

Mahindra Aerostructures, a subsidiary of Mahindra Aerospace Pvt. Ltd., operates a 25,000 sq. m. manufacturing facility near Bengaluru. Since starting commercial deliveries in January 2015, the business has swiftly ramped up and is now exporting detailed parts, sub-assemblies and primary structural components to its customers world-wide.

Segnere SAS, headquartered in Tarbes near Toulouse, operates three production facilities in France and a subsidiary in Tunisia. Specializing in hard metal parts and assemblies, Segnere is a Tier 1 to Airbus with several decades of experience in providing proximate and steady support to Airbus and its major suppliers.

The partnership with Segnere supports Mahindra's intent to expand its existing capabilities to produce hardmetal parts (titanium, inconel and aerospace steels) and then to collaborate on other technologies.

Mr. S P Shukla, Chairman, Mahindra Aerospace and Group President-Aerospace & Defence, Mahindra Group, stated "We are continuously looking at opportunities to be closer to our customers and to sharpen our value proposition. This relationship with Segnere is further proof of the Mahindra Group's commitment to continuously invest in growth."

Speaking on the new relationship, Mr. Arvind Mehra, Executive Director & CEO of Mahindra Aerospace said, "We are pleased to launch this strategic partnership with Segnere. We will work together to leverage our combined experience and expertise to meet the strategic sourcing priorities of our customers. Segnere provides us a footprint in France while we provide 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," explained Mr. Jean Michel Segnere, President of Segnere SAS. "Mahindra's global presence in various industries and investments in aerospace offer excellent synergy to our specialized skills and long experience in this industry. Mahindra experience in manufacturing, coupled with a significant desire to invest in aerospace and Segnere's long association with Airbus and other OEMs, present a unique opportunity for growth" he added.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.1301.35 as compared to the previous close of Rs. 1302. The total number of shares traded during the day was 85790 in over 4071 trades.

The stock hit an intraday high of Rs. 1319 and intraday low of 1295.05. The net turnover during the day was Rs. 112408926.

Source: Equity Bulls

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