Tuesday, April 27, 2010

Mahindra intends to add bigger wings to aviation biz

Mahindra & Mahindra (M&M), the automobile manufacturer which has recently also entered the aviation sector, has ideas of replicating the global success of Brazilian aircraft maker Embraer.The company acquired a stake of more than two-thirds in two Australian aerospace companies last month, to expand its aircraft and aerospace component manufacturing business.Speaking on the sidelines of a truck launch made by M&M at the Delhi Auto Expo, vice-chairman and managing director Anand Mahindra said: “We have our feet firmly planted on the ground, but we have our dreams and they are not limited. There have been instances abroad, like Embraer, who have made it big in the aviation space.”

M&M is looking at establishing itself as a premier aircraft manufacturer, as well as a supplier of high-precision aircraft components. It has formed a wholly-owned unit named Mahindra Aerospace for the purpose. The company has already built and delivered executive private aircraft, which can seat five people in comfort, to Jordan-based Seabird Aviation. Post the acquisition of the two recently acquired companies, M&M hopes to build 20-seater executive jets, with an aim of selling 25-30 such aircraft every month.M&M executives say they hope to sell about 475 aircraft globally in the next five years...............................link

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