Skanda Aerospace to set up unit in Hyd with 250 cr

Hans Business: Skanda Aerospace Technology Private Limited (SATPL) plans to invest Rs 250 crore to set up a facility here. SATPL is the joint venture between Raghu Vamsi Machine Tools (RMVT) and Rave Gears, LLC, Texas USA and their production facility becomes the first private company having capability to manufacture helicopter gears and gear boxes in India. The joint venture (SATPL) will have 55 per cent holding by Rave Gears while RVMT and investors hold rest 45 per cent. The company will provide employment to about 1,000 people in the next 3 to 5 years.

Rave Gears has also committed to provide annual orders to the tune of $9 million to Skanda Aerospace. Located in Texas, USA - Rave Gears LLC is a designer, manufacturer and system integrator of gears and precision drive trains catering to aerospace, defence, automotive and industrial customers worldwide. Rave Gears supplies to major OEMs such as Boeing, Bell, Collins, BAE Systems, Rolls Royce, Mclaren, and Nascar. Raghu Vamsi Machine Tools is a leading supplier of high precision products and subassemblies to leading OEMs such as Boeing, GE Aviation, Eaton, and Honeywell.