Mumbai, Mar 5 (UNI) Defence major Hindustan Aeronautics Limited (HAL) and INCAT, a global leader in engineering services outsourcing (ESO) and product development IT services, today inked a joint venture partnership here to form INCAT-HAL Aerostrutures Limited.
The new organisation is immediately positioned to establish itself as a global leader in the engineering and design of aero structures.
''The global aerospace industry is realizing the value of adopting an outsourcing-based business model, not simply to achieve cost reductions, but to speed time to market while maintaining quality,'' INCAT CEO Warren Harris said.
''This joint venture, leveraging the strengths of both companies, creates an organization capable of delivering outstanding value to clients within the global aerospace market,'' he added.
HAL Director for corporate planning and marketing, M Fakruddin said, ''The objective of this joint venture is to undertake work packages related to engineering design services in aerostructures and also the captivate offshore and on-site work load of both partners from aerospace OEMs, including offset programs.'' ''HAL and INCAT are set to capitalise on the global aerospace demand by leveraging their combined core strengths - HAL's offset business, and INCAT's global offshore/on-site engineering business." Tata Technologies Managing Director Patrick McGoldrick said.
The joint venture, based at Bangalore will be the Preferred Delivery Centre, for both organisations. The JV agreement was signed between HAL and Tata Technologies, INCAT's parent company. Both HAL and Tata Technologies would contribute 50 per cent to the equity of the JV.
UNI VK SR VKG1954