Gandhinagar: The multi-billion dollar Adani Group on Tuesday announced that it is set to acquire Air Works, one of India’s largest and highly diversified aircraft maintenance, repair and overhaul (MRO) companies as part of its growing defense portfolio. .
Adani Defense Systems and Technologies Limited (ADSTL) said it has signed definitive agreements to acquire Air Works, which has the largest pan-India presence in 27 cities, at a cost of Rs 400 crore.
Ashish Rajvanshi, CEO, Adani Defense and Aerospace said, “Given India’s growth trajectory and the government’s focus to network the country through its vast network of air connectivity, it is imperative that India’s airline and airport sector Its primary development is beyond that.” The defense manufacturing arm of the more than $250 billion Adani Group said in a statement.
He said, “Therefore, the MRO sector has an important role to play in both the defense and civil aerospace sectors. Add this to the ongoing modernization program to make India a huge market for defense aircraft, and what emerges is within the country’s borders. One of the most exciting, comprehensive, scale and digital MRO services.
From Phase 32 Testing to Phase 48 Testing of the First P-8I Aircraft, and the MRO on the Landing Gear of 737 VVIP Aircraft of the Indian Air Force, Air Works Base for a fleet of ATR 42/72, A320 and B737 aircraft from its facilities does maintenance. in Mumbai, Delhi, Hosur and Kochi.
past acquisitions
The acquisition of Air Works is one of the many that the Adani Group has bought in the defense sector over the years.
The company’s Adani Defense and Aerospace arm has also entered into a joint venture with Israeli firm Elbit Systems. Through this joint venture, the firm is eyeing several deals with the Indian Armed Forces for their drone and counter drone requirements.
Earlier, Adani Group had acquired PLR Systems, which has a joint venture with the Israeli Weapons Industry (IWI). Through this venture, the Adani Group hopes to meet the diverse needs of the Indian Armed and Police Forces in the small arms sector including snipers and assault rifles.
Another major acquisition by the Adani Group is that of Bengaluru-based Alpha Design, a firm that also caters to the aerospace sector.
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