Chennai, April 27 (IANS) The US-Indian joint venture Carr Lane India will start shipping out aerospace tooling components to the US once it starts its operations in July, company officials said on Saturday.
Carr Lane India is a 70:30 joint venture between US-based $50 million Carr Lane Manufacturing and Rialto Enterprises, part of the Rs 600 crore Rayala Group.
"With the aerospace sector expanding in India, we decided to have a production base here and cater to the demands than sending the products from the US," Carr Lane's Chief Operating Officer Colin Frost told reporters here.
"During the first three years of operations of the Indian company, exports will be more than the domestic sales," he added.
Carr Lane has customers like Boeing, Lockheed Martin and other majors in the global aerospace sector.
"Initial investment will not be high as we will be using our existing facilities to for making the aerospace tooling components. The investments will be gradually increased based on the needs," Rialto Enterprises' Managing Director Ranjit Pratap said.
The joint venture company plans to make tooling components and special alignment devices for the start. Plans are afoot to produce very niche products which are in great demand by the aero industry.
Pratap said Rialto's engineering division already makes press components for auto component major Wabco.
In its oral care Division, Rialto manufactures Oral B tooth brushes under license from Procter & Gamble. Currently, the company manufactures around 30 million tooth brushes per month.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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