Kineco and Kaman launch composites joint venture in Goa, India

The new company, Kineco Kaman Composites – India Pvt. Ltd., will manufacture autoclave-cured carbon fiber composite structures.

On Jan. 8, 2013, Goa, India-based Kineco Private Limited and Kaman Aerospace Group Inc. (Middleton, Conn.), a subsidiary of Kaman Corp. (Bloomfield, Conn.), announced the formal inauguration of a joint venture in Goa. The new company, named Kineco Kaman Composites – India Private Limited, has been set up to manufacture advanced composite structures for aerospace, defense, medical imaging and other markets, using carbon fiber materials and autoclave curing technology. Output will include composite structural parts for modern aircraft and helicopters and, potentially, parts for spacecraft.

Kineco’s Advanced Composite Division’s manufacturing facilities and business, which have been operating for the past seven years, has been assigned to the new joint venture. This facility has already produced complex composite structures for various industries, including defense and medical imaging. The two companies expect that the former Kineco division's work will be enhanced by Kaman’s decades of experience in manufacturing aerospace composites.

The upgraded facility was inaugurated on Jan. 8 by the chief minister of Goa Shri. Manohar Parrikar. Shekhar Sardessai, chairman and managing director of Kineco Group, and Richard Thorley, director – strategy and development, Kaman Aerospace Group, said the following in a joint press statement. “The joint venture 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 .... This joint venture has the potential to become an extraordinary event for the Indian and the global aerospace industry.”

Kaman is expected to help give the joint venture greater scale with its already global footprint; add best-in-class practices in design, manufacturing, project and supply chain management; and, most importantly, contribute a high standard of corporate governance.

Kineco intends to contribute well established and, says Kineco, cost-efficient manufacturing facilities combined with its employees' skill sets. It also brings to the joint venture its established relationships with the Indian defense and aerospace industry.

The joint venture says it 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. Thorley will be based full time in Goa and will serve as an important link in aligning the joint venture's operations with Kaman's. The other members of the joint venture's leadership team include Kevin Wright, senior VP of operations; Dananjay Dodtumkur, VP of 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 more than 500 people in the next three to five years.

In addition to the existing investment in the manufacturing facilities at Goa's Pilerne Industrial Estate, the new firm has plans to invest immediately in upgrading and modernizing its plant this year. In addition, the firm's strategic plan envisages significant further investment in the latest composite production capabilities during the next five years, commensurate with business growth.

The company anticipates major opportunities in the global commercial and defense aerospace market, including offset opportunities that it expects will arise from major defense spending by the Indian government.

Kineco Kaman's inaugural press conference was well attended. Senior executives from Kaman’s Bloomfield headquarters were on hand, including Gregory Steiner, president of Kaman Aerospace Group; Jim Larwood, president of Kaman Aerosystems and Al Lariviere, president of Kaman Composite Structures.

Kaman Aerospace Group 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 was founded in 1945 by aviation pioneer Charles H. Kaman. More information is available at the Web site: http://www.kaman.com.

Kineco is a first-generation entrepreneurial company founded by Shekhar Sardessai. It was incorporated in 1994 and currently employees more than 150 people. Reportedly one of India’s leading composites manufacturing companies, with a strong presence and focus on the aerospace and defense industry, Kineco has two operational facilities with total manufacturing space of 150,000 ft2 (13,935m2), one of which has been assigned to Kineco Kaman. The company caters to a wide range of industries, such as rail transit, aerospace, defense, mass transportation, process, and marine.

For more information contact:

Richard Thorley, Strategy and Development Director, Kaman Aerospace Group; Tel.: +91 779 8882 503; E-mail: richard.thorley@kaman.com.

or

Dananjay Dodtumkur, VP, Strategy and Growth, Kineco Pvt. Ltd.; Tel.: +91 991 6328 263; E-mail: dananjay@kinecogroup.com.