Tata eyes jet manufacturing
After taking over Corus and Jaguar, the Tata group is in talks for a partnership with Brazilian aircraft manufacturer Embraer.
According to sources, the talks revolve around setting up a joint venture for production of aircraft. Embraer, the only manufacturer of commercial 120-seater jets, is unable to cope with its order book.
Though the talks were exploratory, the Tata group was considered a serious contender for the joint venture, sources said.
Embraer (Empresa Brasileira de Aeronutica) is the world's largest manufacturer of commercial jets of up to 120 seats, and one of Brazil's leading exporters. Headquartered in Sao Paulo, it has offices, industrial operations and customer service facilities in Brazil, the US, France, Portugal, China and Singapore.
Earlier in February, the world's leading aircraft maker Boeing and Tata Industries had agreed on a plan to form a joint venture company that will initially include more than $500 million of defence-related aerospace component work in India for export to Boeing. The company is scheduled to be set up by June 2008.
“This joint venture between the Tata group and Boeing is an important part of our strategy to build capabilities in defence and aerospace,” Tata group chairman Ratan Tata had said at that time.
In the same month, Singapore-based BJets, Asia's leading private jet company catering to corporations and rich individuals, had announced a tie-up with Tata group firm Indian Hotels as a "significant investor". BJet's flight operations will begin in May 2008 and will be headquartered in Mumbai.