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Kineco Private Limited a Goa based Company and Kaman Aerospace Group Inc., a subsidiary of Kaman Corporation, USA, announced the formal inauguration of their joint venture in Goa, India.
The joint venture (JV), a new Company which has been named Kineco Kaman Composites – India Private Limited, will manufacture advanced composite structures for Aerospace, Defense, Medical imaging and other industries using the latest carbon fibre materials and autoclave curing technology. This will include composite structural parts for modern aircraft and helicopters and potentially, parts for spacecrafts.
Kineco’s Advanced Composite Division’s manufacturing facilities and business which has been in existence for the past 7 years has now been assigned to this new joint venture. This facility has already been producing complex composite structures for various industries including Defense and Medical Imaging and this will now be further enhanced with Kaman’s decades of experience in manufacturing Aerospace composites.
The upgraded facility was inaugurated on the 8th of January, 2013 by the Hon’ble Chief Minister of Goa Shri. Manohar Parrikar.
Shekhar Sardessai, Chairman and Managing Director of Kineco Group and Richard Thorley, Director‐ Strategy & Development, Kaman Aerospace Group in a joint press statement said the following, “The JV between Kineco and Kaman is a unique and a special one and has become a reality based on the strength of a mutually shared vision that will drive the JV to provide outstanding composite structures solutions to our customers around the world. This JV has the potential to become an extraordinary event for the Indian and the Global Aerospace Industry..”
Kaman adds a scale of global footprint, the best in class practices in design, manufacturing, project and supply chain management and most importantly high standards of corporate governance. Kineco on the other hand brings in well established and cost efficient manufacturing facilities combined with people’s skill sets. It also brings to the JV established relationships with the Indian Defense and Aerospace Industry.
The Joint Venture has put in place a competent leadership team headed by Shekhar Sardessai, as its Chairman and Managing Director and Richard Thorley, who has been named the Chairman of the Management Committee. Mr. Thorley will be full time based in Goa and will serve as an important link in aligning the JV operations with Kaman.
The other members of the leadership team of the JV include Kevin Wright, Senior Vice President, Operations; Dananjay Dodtumkur, Vice President, Strategy and Enterprise Growth and Nagaraj Jantli, Finance Director. The joint venture will initially employ 50 people and based on the anticipated growth plans, will employ over 500 people in the next 3‐5 years.
In addition to the existing investment in the manufacturing facilities at Pilerne Industrial Estate, the JV plans to immediately invest in upgradation and modernization in the year 2013. In addition, the JV strategic plan envisages significant further investment in the latest composite production capabilities over the next 5 years commensurate with growth in its business.
The JV anticipates major opportunities in the global commercial and defense aerospace market including offset opportunities arising from major Defense spending by India Government. The JV will surely put Goa on the global aerospace and defense map. The press conference was well attended by Kaman’s senior executives from their Headquarters in Bloomfield, Connecticut including; Gregory Steiner, President KamanAerospace Group; Jim Larwood, President Kaman Aerosystems and Al Lariviere, President Kaman Composite Structures.
Picture: Hon’ble CM Shri Manohar Parikkar inaugurating the Kineco Kaman plant in the presence of (From left) Shri Dilip Parulekar- Hon’ble Minister for Tourism , Mr. Richard Thorley – Director ( Strategy & Development) of Kaman Aerospace Group (USA) and Mr. Shekhar Sardessai – Chairman and Managing Director of Kineco Group Pvt. Ltd.
About Kaman Aerospace Group Kaman Aerospace Group:It is a subsidiary of Kaman Corporation. The company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; and support for the company’s SH‐2G Super Seasprite maritime helicopters and K‐MAX medium‐to‐heavy lift helicopters. Kaman Corporation, founded in 1945 by aviation pioneer Charles H.
Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets.
About Kineco Private Limited:Kineco is a first generation entrepreneurial company founded by Mr. Shekhar Sardessai and was incorporated in 1994 and currently employees more than 150 people. It is one of India’s leading composites manufacturing companies with a strong presence and focus on the aerospace and defense industry. Kineco, as a company, has a legacy of innovation, development and commercialization of composite products. It has two operationalfacilities with total manufacturing space of 150,000 square feet, one of which has been assigned to the Kineco Kaman JV. The company caters to a wide range of industries such as; railways, aerospace, defense, mass transportation, process, and marine.
More information:www.kaman.com - www.kinecogroup.com