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ASSYSTEM and AXISCADES sign MoU for strategic alliance at Aero India 2015

Posted On : 2015-02-23 21:59:35( TIMEZONE : IST )

ASSYSTEM and AXISCADES sign MoU for strategic alliance at Aero India 2015

ASSYSTEM and AXISCADES have announced at Aero India 2015 (Asia's Premier Aerospace exhibition) the signature of a Memorandum of Understanding to create a strategic alliance to deliver enhanced values to Airbus Group.

This Collaboration provides Airbus group with a significant value addition for its projects in engineering services by two established E2S preferred suppliers.

The synergy between ASSYSTEM/AXISCADES offers a new Technology based platform for improved business value, security, flexibility and quality to continue delivery of demanding projects On time and Right First Time.

"The signature of this MoU with AXICADES underpins our strategy in the Aerospace Sector by providing Airbus with a complete Near and Offshore Engineering solution. It also provides valuable offset opportunities in India and I am sure that the combination of both companies will provide our clients with real added value" said Jeff Hoyle, Vice President, Aerospace, Assystem.

Commenting on the occasion, Sudhakar Gande, Group Vice Chairman said "This relationship will strengthen our Engineering Service offerings to global clients like Airbus. This relationship will create a win-win solution for all and is in line with our goal of accelerated value creation. This strategic partnership is in line with our Global OEM outsourcing strategy."

Together we consider this solution to be the future benchmark model for new programmes to come for the global marketplace within the Aerospace industry. The scope encompasses the entire product lifecycle such as Development, Manufacture and in-service support in the areas of Airframe, Systems & Software.

Shares of AXIS-IT&T LTD. was last trading in BSE at Rs.273 as compared to the previous close of Rs. 236. The total number of shares traded during the day was 565682 in over 26966 trades.

The stock hit an intraday high of Rs. 277.8 and intraday low of 234. The net turnover during the day was Rs. 148015046.

Source : Equity Bulls