Dynamatic Technologies division Dynamatic Aerospace® signs MOU with Cobham at Aero India 2007

Dynamatic Technologies Ltd has announced that Dynamatic Aerospace®, a division of the Company, a pioneer and a recognised leader in the Indian Private Sector for the development of complex aerostructures on February 09, 2007 made their first major announcement at AeroIndia 2007. Dynamatic Aerospace® has been given the rights to manufacture the CBLS 2000 Practice bomb carrier for Indian and Export markets with Cobham PLC and its Air Refuelling & Auxiliary Mission Equipment division.

The Company has signed a Memorandum of Understanding with Cobham on February 08 at the Aero India 2007.

According to Udayant Malhoutra, CEO and managing director of the Company, "The partnership with Cobham is important for the private aerospace manufacturing industry as we will manufacture for both Indian and export markets. This a rare opportunity for a private sector Company in India to be showcasing Aerospace products for the International markets."

Speaking to the media Allan Cook, the CEO of Cobham said, "This is our first strategic alliance with private industry in India and is the start of a long and fruitful relationship with Dynamatic®. We are delighted to have reached this agreement as the first of what we believe will be many other opportunities to work together in a true industrial partnership."

"In addition the two Companies are in detailed discussions regarding partnering in other business areas for the Indian Defence Forces. Cobham Air Refuelling & Auxiliary Mission Equipment designs and manufactures mission systems aerospace and defence and has been supplying the Indian market for over 20 years, added Mr. Cook.

Elaborating on the partnership with Cobham, Mr. Malhoutra added "Dynamatic® is a well known and successful private Company having expertise in the manufacture of high quality products for the aerospace and defence markets. The Agreement will benefit Dynamatic by giving access to Cobham Weapons Carriage and Release portfolio and benefit Cobham with an increased market and lower cost manufacturing base."

Dynamatic Aerospace®, a division of the Company, is a pioneer and a recognised leader in the India Private Sector for the development of complex aerostructures. Over the past decade, the Company has closely partnered the Ministry of Defense, Hindustan Aeronautics Ltd, and other defense establishments on Key projects including the Lakshya, India's Pilotlees Target Aircraft, HJT-36 Intermediate Jet Trainer and Sukhoi MKI 30 Fighter Bomber. Dynamatic Aerospace® has the largest infrastructure in the Indian Private sector for manufacture of exacting Air Frame Structures and Precision Aerospace Components. This is the first time such capabilities have been built in the India Private Sector. The Company is now consolidating its position through collaborations with International Aerospace majors on exports initiatives.

Source : Equity Bulls

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