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| Edited By: |Source: PTI |Updated: Mar 16, 2018, 06:09 AM IST
Saertex-Kemrock India Limited, a joint venture company of Germany-based Saertex and India's Kemrock Industries and Exports Limited, will invest Euro 10-million initially to manufacture aeronautical components.
Saertex India, a subsidiary of Saertex, is a global leader in carbon and aramide fabrics. Saertex and Kemrock had recently signed an MoU to set up a 50:50 JV in this regard.
"Saertex-Kemrock will invest Euro 10-million in the first phase to set up a new facility in Vadodara, Gujarat, spread over 280-acres for the manufacture of components needed in the aeronautical industry," Kemrock's Chairman and Managing Director, Kalpesh Patel, told reporters here today. There would be further capital infusions going forward, he said.
The facility will be commissioned in the next 6-8 months and will produce high-end carbon composite components for both commercial and defence aeronautical requirements, Patel said.
"This is the first such facility to be set up by Saertex outside Germany, Patel said, adding that Kemrock will provide cutting-edge expertise in composite manufacturing and strong Indian operations. The prime focus of the company would be to build the interiors of the Airbus aircraft in the next three-years, Patel added.
Kemrock is one of the largest manufacturers and exporters of moulded gratings and other carbon fibre products used in building of the interiors of the aircrafts, railway coaches, windmill blades, GRP poles, race cars, boats, and racing cycles.
Kemrock, which already has a state-of-the-art facility in Vadodara, had earned a revenue of Rs365-crore in the last fiscal and targets over Rs 600-crore this fiscal, Patel said.
