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Quest Global Manufacturing, the manufacturing arm of aerospace and defence engineering services company Quest Global, has signed a joint venture (JV) agreement with Swedish defence and security firm Saab. As per the JV deal, both companies will form an aerostructure assembly joint venture, which will manufacture and supply assemblies for the aerostructures market.
In the joint venture entity, Swedish major Saab will hold a 26 per cent stake in line with their objective to strengthen its strategic presence in India. The entity, called ‘Aero Assemblies India’ will be located in Quest Global’s Special
Economic Zone in Belgaum. Quest also has a manufacturing facility in the SEZ.
“The joint venture with Saab is a clear indication of our impetus in the aerospace sector and promises to go a long way in enhancing our aerospace ecosystem within the SEZ. With this partnership, QuEST is now well poised to offer its aerospace customers a full range of manufacturing supply chain solutions while achieving our global manufacturing growth objectives through 2016 and beyond,”Aravind Melligeri, Co-Founder and Chairman, Quest Global, said,
According to the company, facilities for the joint venture will be developed through 2013 and the unit will initially become operational with about 50 employees and is expected to ramp up to over 400 in the near future. This partnership between the two companies will see knowledge transfer to develop capability building for assembly, tooling, material and supply chain as well as technical training for assemblies and sub-assemblies.