Mahindra Group and Eurocopter sign MOU for trade partnership
Mahindra Aerospace and Mahindra Satyam signed a Memorandum of Understanding (MOU) for a trade partnership with the Eurocopter Group and its Indian subsidiary, Eurocopter India.
- (1888PressRelease) August 05, 2011 - Mumbai: Mahindra Aerospace and Mahindra Satyam - representing the aerospace manufacturing and engineering capabilities of leading Indian industrial house, the Mahindra Group - today signed a Memorandum of Understanding (MOU) for a trade partnership with the Eurocopter Group and its Indian subsidiary, Eurocopter India. The partnership will be focused on manufacturing of sub assemblies, engineering and customization of civil helicopters and the joint development of specific market segments. Details of the scope and structure of the partnership will be decided in the coming months.
Noting that Mahindra is a long established and respected multinational group with great engineering and manufacturing competencies, Lutz Bertling, President and CEO of Eurocopter pointed out that "the synergies between our two companies will enhance our contributions to the Indian civil helicopter market."
Mr. Hemant Luthra, Chairman of Mahindra Aerospace and President and Member of the Group Executive Board of Mahindra & Mahindra said, "We are delighted to work with the world's leading helicopter manufacturer to contribute to the growth of the Indian aeronautical industry and civil aircraft market. Eurocopter has a solid, long term strategy for the growth of the India market, while we are already creating a niche for ourselves in the fixed-wing aircraft and aerostructures manufacturing space. We see this MOU as a significant step forward for both of us as well as the domestic aviation industry."
"Mahindra Satyam has been providing IT and Engineering Services to the aerospace sector, and has been providing solutions to Airbus for the last several years. We are already closely engaged with the EADS Group and feel proud to be associated with Eurocopter, to provide our engineering capabilities for their range of products. This underscores our commitment and ambition to be a leading provider of value added services for the sector," commented Mr. C P Gurnani, CEO of Mahindra Satyam.
In October 2010, with the launch of its India subsidiary - Eurocopter India Private Limited - Eurocopter demonstrated its commitment to the Indian market and industry. Eurocopter is the first and only foreign helicopter manufacturer to have a dedicated Indian subsidiary. One of the key priorities of the subsidiary is to identify synergies and opportunities for partnerships with local companies to strengthen the helicopter industry in India.
About the Mahindra Group (Website: www.mahindra.com)
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A US $12.5 billion multinational group based in Mumbai, India, Mahindra employs more than 119,900 people in over 100 countries. In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India's Top 500 Companies.
In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure Project (CDP). In 2011, Mahindra acquired a majority stake in Korea's SsangYong Motor Company.
About Mahindra Aerospace
Mahindra Aerospace was formed in 2008 to lead the Mahindra Group's foray into the global aerospace manufacturing and utility aircraft industry. MAPL recently concluded the acquisitions of Aerostaff Australia and GippsAero (formally Gippsland Aeronautics), both based in Australia.
With an overall investment commitment in excess of US$100 Mn, MAPL is steadily expanding its portfolio in both aircraft and aerostructures, and has started work on developing a major aerostructures manufacturing facility in India. Its fixed-wing aircraft portfolio will soon expand to include multiple models in the 2-20 seat class, with both single engine and twin-engine aircraft on offer. Its aerostructures capability will offer multiple sourcing options leveraging global best practices in two continents.
About Mahindra Satyam (Website: www.mahindrasatyam.com)
Mahindra Satyam is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities. Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
For clarifications, write to us at: MediaRelations ( @ ) mahindrasatyam dot com
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