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(Kineco, Goa, India)announces the acquisition of an additional 49% equity stake in its subsidiary, Kineco Kaman Composites India Private Ltd. (Kineco Kaman), from the U.S.-based joint venture (JV) partner Kaman Aerospace Group Inc (Bloomfield, Conn., U.S.). This transaction makes Kineco Kaman a wholly owned subsidiary of Kineco Ltd.

Kineco Kaman was founded in 2012 as a JV between Kineco and Kaman Aerospace, with the aim of addressing the growing demand for advanced composite parts and subassemblies for the aerospace and defense industries in India and globally. Over the past 12 years, the company has built its reputation for manufacturing complex composite components and subassemblies used in aerospace, defense and space applications. The company has also received multiple Gold Supplier awards for quality excellence and 100% on-time delivery from global 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.

“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 grateful to Kaman Aerospace for its support and trust throughout the years,” says Shekhar Sardessai, founder, chairman and managing director of Kineco Ltd.

Sardessai also emphasizes that this acquisition aligns with the company’s 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 announced that Kineco plans to integrate all of its aerospace and defense businesses into a single SBU, branded as Kineco Aerospace & Defense. This unification strategy, coupled with full control of the SBU, positions Kineco to pursue more ambitious growth targets.