Kaman Aerospace Group and Kineco Private Ltd have announced that they have entered into an agreement to form a manufacturing company in India.
The new company will be called Kineco Kaman Composites and will be based initially based in Kineco’s existing manufacturing site in Goa, which already employs 150 people. The new company will manufacture advanced composite structures for aerospace, medical and other industries.
Gregory L. Steiner, President of Kaman Aerospace Group, commented,
This is a further step in our Group’s strategy for our composites business. Kineco brings strong local knowledge and business relationships and when combined with our international customer base we anticipate major opportunities in both commercial and defense applications.
Financial terms of the transaction have not been disclosed and completion is subject to due diligence.[connections id=’15,85′]