India, June 19, 2018: Aequs Special Economic Zone has expanded further by bringing Toulose based Latécoère Groupe, ranked 2nd worldwide in onboard aircraft wiring, to set up its production facility in Belagavi, Karnataka. Aequs SEZ is a full-fledged aerospace ecosystem, hosting separate facilities for Machining, Surface Treatment, Assemblies, Fabrication Warehousing, etc., supporting the entire manufacturing process, thereby reducing time-to-market on projects.
Initially, the first production runs will commence in an existing 1300 sq. m. unit in Q3, 2018, pending construction of a new facility in Aequs special economic zone. The company is planning to construct a brand new 4000 sq. m. manufacturing facility within the SEZ to benefit from the existing aerospace ecosystem at Aequs.
The 250-acre SEZ is unique for a company as young as Aequs (started in 2009) and they have steadily built their expertise in the aerospace services in a way that has attracted global aerospace industry giants. With their acquisitions in US and France, they have been able to establish the first global aerospace ecosystem in the world, of this scale. They also have the distinction of being India’s fastest growing aerospace company, with a CAGR of 50% year-on-year for 5 years.
Aravind Melligeri, Chairman & CEO of Aequs Group, said upon signing of the agreement, “Aequs has developed a thriving ecosystem that would facilitate every occupant, who is a part of this SEZ, to grow exponentially by leveraging interrelated capabilities, difficult to find in one location elsewhere in the world.”
“The know-how of the Interconnection Systems teams has once again won global recognition by the industry. The new plant is designed to make the Group more competitive and will help us to support our customers in their development initiatives,” added Latécoère CEO Yannick Assouad.