Kaman expands stake in India joint venture from 26% to 49%

Kaman Aerospace Group, Inc. and Kineco Limited have jointly announced that Kaman has increased its stake in the parties´ Indian manufacturing joint venture Kineco Kaman Composites India Pvt. Ltd. (JV) to 49% from 26%, the companies said.

The Goa based JV manufactures advanced composite structures for aerospace, imaging/medical, and other industries for customers including BAE Systems, Hindustan Aeronautics Limited, and Vikram Sarabhai Space Centre.

The joint venture employs more than 150 people at its composites manufacturing facility in Goa. The operation produces complex composite structures utilizing the latest carbon material and autoclave curing technology. The business has brought together Kaman´s manufacturing expertise and decades of aerospace composites fabrication experience with Kineco´s knowledge of local markets and advanced composites manufacturing capabilities.

Kaman Aerospace Group, a subsidiary of Bloomfield, Connecticut-based Kaman Corporation (NYSE-KAMN), produces and/or markets proprietary aircraft components, and complex metallic and composite aerostructures for commercial, military, and general aviation fixed and rotary wing aircraft. The company provides aerostructure engineering design analysis and FAA certification services, safe and arm solutions for missile and bomb systems for the US and allied militaries, subcontracts helicopter work, and supports the company´s SH-2G Super Seasprite maritime helicopters and K-MAX medium-to-heavy lift helicopters.

Bloomfield, Connecticut-based Kaman Corporation conducts business in the aerospace and industrial distribution markets.

Kineco currently employs more than 150 people. It is a composites manufacturing company with a strong focus on the aerospace and defense industry. The company caters to a wide range of industries such as railways, mass transportation, marine, automotive, and industrial application besides aerospace and defense.

Chennai-based Helios Strategic Systems (I) Limited, a subsidiary of Indo National Limited, now holds a 51% stake in Kineco Limited.