Boeing inks 10 year-deal with India’s Hindustan Aeronautics
Boeing and India’s state-run Hindustan Aeronautics Limited (HAL) Thursday signed a 10-year pact for aerospace manufacturing in India worth over a billion dollars, officials said.
„Under the agreement, Boeing and Hindustan Aeronautics Limited will explore business opportunities aimed at transferring work packages to India with an initial value of $10 to $20 million annually,” said Jim Albaugh, president and CEO of Boeing’s Integrated Defence Systems. Albaugh earlier signed the agreement with HAL chairman, Ashok Baweja in India’s southern Bangalore city. „Boeing will also support Hindustan Aeronautics Limited in developing manufacturing processes and capabilities needed for the production of hardware for Boeing and/or its subcontractors,” he said. It is the biggest-ever deal for an Indian government-run company, local media reported. The Indian defense company will manufacture subsystems for Boeing’s wide range of fighter planes like F-15, F-18 Super Hornets and Apache helicopters.
The PTI news agency reported that the US company - which is vying for India’s major defense contract for the purchase of 126 multi-role combat aircraft - made it clear that the manufacturing outsourcing contract was „without any strings”. Boeing Integrated Defense Systems is a $32.4 billion business, and is a unit of the Boeing Company, one of the world’s largest space and defense businesses. HAL is India’s premier aerospace company involved in the design, development, manufacture and maintenance of advanced fighters, trainers, helicopters and associated engines. (m&c.com)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.