M&M Aerospace plans 10-18 seater planes

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. HT reports.

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.

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"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.