Merlinhawk Aerospace Pvt Ltd recently signed a joint venture (JV) agreement with Vega Composites, Italy to establish a composites manufacturing and design facility in the defence corridor in Tamil Nadu for advanced composites material-based products. The new entity will be called Merlinhawk Composites and Engineering Private Limited and is the first such agreement signed between an Italian and Indian company, post the signing of the defence cooperation agreement.
The agreement was signed in the presence of the Indian Ambassador to Italy and San Marino, H.E. Dr Neena Malhotra.
Interestingly this JV will involve the transfer of technology, thus advancing the technical capabilities of Indian defence sector highlighting Indian Government’s efforts to facilitate defence production and manufacturing in India.
The JV will primarily tap into India’s growing market while developing design expertise and transferring manufacturing knowhow to India. Merlinhawk Composites will be targeting the growing demand for composites-based products along with upcoming hydrogen storage and fuel cell markets.
Merlinhawk Composites will also be targeting export markets by providing design services and turnkey solutions for customers.
Ram R Ramineni, Managing Director of Merlinhawk said, “Merlinhawk Composites, by leveraging upon Vega Composites’ expertise, will be able to offer cutting edge solutions in composites technologies for end-users in India and across the region. The new entity is in line with the Hon’ble PM’s Aatmanirbhar India vision to create in country manufacturing capabilities for advanced technologies.”
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Roberto Lapini, chief executive of Pasquali Group has expressed satisfaction upon reaching this agreement. With a decade-long partnership between Pasquali Group and Merlinhawk, establishing this joint venture stands as evidence of their outstanding collaborative efforts, creating both business opportunities and new employment.
