After the announcement of increase in stake from 26 per cent to 49 per cent in Kineco Kaman Composites India Pvt. Ltd, recently, Neal J. Keating, president and chief executive officer of Kaman Corporation had a chat with Bhiva P Parab
Q: Why have you decided to increase the stake in Indian manufacturing joint venture Kineco Kaman?
First of all I am proud of the significant progress that the JV has achieved in a relatively short time period and along with our outstanding partner, Kineco, strongly support the future business plan for the JV and it has been always good to work in Indian manufacturing joint venture Kineco Kaman and we have increased our stake from 26% to 49% and our increased ownership stake reflects our commitment to this JV and confidence in the potential of the rapidly growing Indian Aerospace Industry.
Q: What made you to enter a JV?
We entered the JV to support our strategy to provide our customers with a complete aerosystem solution and the JV helps us offer customers a “One Stop” full complement of seamless services including design, tooling, testing, certification, low rate initial production, through steady state high velocity production and we are glad to have a strong and supportive partner and we thank them for reposing their faith in the JV and the very success of this collaboration over the past few years indicates how closely Kineco and Kaman have worked together in supporting the operation and having built a strong foundation and a list of satisfied customers.
Q: Is the Goan government supportive?
Yes! The government here is supportive and without government support it was not possible to go ahead with the JV and we are very much thankful to the government for their support. Whenever we approached the government we did not had much difficulty in the process and we are happy about it.
Q: Tell something about the JV?
The Kaman has increased its stake in Indian manufacturing joint venture Kineco Kaman Composites India Pvt. Ltd. (JV) to 49% from 26%. The JV plans to undertake its first major expansion over the next 12-18 months. The operation produces complex composite structures utilizing the latest carbon material and autoclave curing technology and the business has brought together Kaman’s proven manufacturing know-how and decades of aerospace composites fabrication experience with Kineco’s knowledge of local markets and advanced composites manufacturing capabilities.
Q: What do you feel about Goa infrastructure?
Talking about Goa it is a fabulous place and I love to come to Goa and I feel better in Goa compared to rest of India. The infrastructure here is also good and the joint venture employs more than 150 people at its composites manufacturing facility in Goa. 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.