After having signed a memorandum of understanding with the premier chopper company-Eurocopter to manufacture sub-assemblies and other engineering products for the aviation industry, Mahindra Aerospace -the aviation division of Mahindra & Mahindra Ltd is in talks with aircraft-part manufacturers in north America and Europe for a stake purchase.
"We're looking at a deal with a tier-I supplier company specialising in sheet metal components for aircraft," said Hemant Luthra, member of the group executive board of Mahindra on Monday.
The company plans to manufacture 10 and 18-seater airplanes over the next three years.
The planes will be built by GippsAERO, the Australia-based aircraft manufacturing division of Mahindra Aerospace.
The aerospace division has acquired land for its upcoming manufacturing facility in Bangalore, with an investment of Rs 280 crore. It is a part of Mahindra's Rs 450 crore investment plan.