KINECO ACQUIRES 100 % SHAREHOLDING CONTROL OF KINECO KAMAN SUBSIDARY

6th October 2024- Goa-based Kineco Limited (KINECO), a leading manufacturer of advanced composite products for the aerospace, defense, and railway sectors, has announced the acquisition of an additional 49% equity stake in its subsidiary, Kineco Kaman Composites India Private Limited (Kineco Kaman), from the U.S.-based J.V. partner Kaman Aerospace Inc. This transaction makes Kineco Kaman a wholly owned subsidiary of Kineco Limited.

Kineco Kaman was founded in 2012 as a joint venture between Kineco and Kaman Aerospace, with the aim of addressing the growing demand for advanced composite parts and sub-assemblies for the aerospace and defense industries in both India and globally. Over the past 12 years, the company has earned a strong reputation for manufacturing complex composite components and sub-assemblies used in aerospace, defense, and space applications. The company has received multiple Gold Supplier awards for excellence in quality and 100% on-time delivery from global Original Equipment Manufacturers (OEMs). Kineco Kaman has also been a preferred supplier for major Indian defense and space programs, including ISRO’s Chandrayaan-3 and Gaganyaan missions, as well as defense helicopter and combat aircraft programs.

Shekhar Sardessai, Founder, Chairman and Managing Director of Kineco Limited, expressed his appreciation for the long-standing partnership with Kaman Aerospace, highlighting the company’s consistent performance and world-class capabilities. “In over a decade of partnership with Kaman, we built a company that has demonstrated global competitiveness and credibility in the aerospace industry. We are deeply grateful to Kaman Aerospace for their unwavering support and trust throughout the years,” Sardessai remarked.
Sardessai also emphasized that this acquisition aligns with the company’s strategic focus on deepening its presence in the aerospace and defense sector and will be value accretive to the company in the medium to long term.
He added, Kineco now plans to integrate all of its aerospace & defence businesses into a single SBU to be branded as “Kineco Aerospace & Defence’.
This unification strategy coupled with full control of the SBU, will now position Kineco to pursue more ambitious growth targets.

source:KINECO