Auto parts firms fly into aviation

Mumbai: With the aviation sector showing better prospects, auto component majors are looking to cater to this industry. Companies such as Caparo Engineering, Sterling Tool Ltd, Sundram Fasteners Ltd, Laxmi Precision Tools, Lumax Industries, JBM Group, Shriram Pistons Ltd and India Pistons Ltd, among others, have already launched into the aviation sector, and others such as Wheels India Ltd are weighing their options.
Krishna Mathur, general secretary of industry body Auto Components Manufacturers' Association (Acma), said,
"Aviation giants, especially Airbus from Europe and some big companies from the US, are looking at sourcing components from India due to the low cost offered by us."
Lalit Kumar Jain, chairman, Laxmi Precision Tools, confirmed that the company has received enquiries from aviation companies in Europe and the US as their existing supplies are limited and they are looking at suppliers from India.
The company has spent Rs 3.5 crore on importing machinery for the aerospace business. The process for getting government approval for the aerospace fasteners business is lengthy and the company is required to be not only ISO 9000 certified but also AS 9100.
Sampathkumar Moorthy, president, Sundram Fasteners Ltd, said diversifying into aviation is a logical move as the company deals in fasteners for specialised automobiles, the process for which is the same as that for aircraft fasteners.
Lumax Industries, an automotive lighting solutions company, is in preliminary discussions with Honeywell, an American company producing aerospace systems, to study high-precision aircraft lighting market, said Deepak Jain, executive director, Lumax Industries.
03/04/09 Neha Rishi/Daily News & Analysis

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Categories: Indian Aviation- In General Apr 2009, New Apr 2009