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Magellan Aerospace, manufacturer and supplier of advanced aerospace systems and components, is planning at expanding its supply base in India with new partnerships and sourcing more components from its sub-contracting manufacturers.
Magellan has already sub-contracting partnerships with Bangalore-based Maini Precision Products, Cimtool and Mumbai-based Triveni Hightech for sourcing components for aero-structures and aero-engines.
The company has also signed a 10-year strategic partnership with Bangalore-based engineering services provider QuEST to source components for Boeing 747, 777 and 787 programmes.
"India is an essential market for us for sub-contract manufacturing. We are excited about the growth happening in the aerospace industry in India as well as globally. Keeping this in mind, we are going to expand our supply base in India with new partnerships and extending the sourcing contracts with our existing partners," Konrad Hahnelt, vice -resident, strategic global outsourcing, Magellan Aerospace Corporation told Business Standard.
The Canada-based firm with a turnover of $568 million in the last fiscal, presently sources about 140 components worth about $150 million per annum from its global sub-contracting partners.
Although Hahnelt did not disclose that how much the company was sourcing from the companies in India presently, he said, "We are doubling our sourcing this year and the sub-contracting from India will be more in forthcoming years."
Larry Winegarden, vice president, corporate strategy, Magellan said while quality was the main parameter behind their tie-ups with India sub-contracting partners, the company also enjoys a cost advantage of 25-30 per cent by sourcing components from India.
Magellan, in March this year, has opened a local representative office in India. This is a step towards management of our supply base in India, said Winegarden.
Magellan, which applies its engineering expertise in the design and development of aircraft structures and engines, presently caters to global firms like Boeing, Airbus, McDonnell Douglas, Bombardier, Rolls-Royce, Pratt & Whitney, Raytheon and Bell Helicopter among others.