Adani Defense Systems and Technologies (ADSTL) has signed definitive agreements to acquire Air Works in a deal worth Rs 400 crore.
Air Works was the country’s largest and highly diversified independent maintenance, repair and operation (MRO) company with the largest pan-India network presence in 27 cities, the company said on Tuesday.
The company said Air Works has developed country-wide operational capabilities for key defense and aerospace platforms.
From the first P-8I aircraft Phase 32 Probe to Phase 48 Probe and MRO on the landing gear of 737 VVIP aircraft of the Indian Air Force, Air Works performs base maintenance for the Air Transport Rack (ATR) 42/72, A320 and B737 fleets. Aircraft from your EASA and Directorate General of Civil Aviation (DGCA) – certified facilities at Mumbai, Delhi, Hosur and Kochi.
Ashish Rajvanshi, Chief Executive Officer, Adani Defense and Aerospace, said, “Given India’s growth trajectory and the government’s focus on network to the nation through its vast net of air connectivity, it is imperative that India’s airline and airport become the primary focus of the sector. Growth is ahead of it. Hence, the maintenance, repair and overhaul sector has an important role to play in both the defense and civil aerospace sectors.”
D Anand Bhaskar, MD & CEO, Air Works Group said, “India has the potential to become an MRO hub for the defense and civil aircraft sector. This is a great opportunity for Air Works and its employees to join under the Adani Defense and Aerospace platform. There is a great opportunity. Policy measures and initiatives of the government including convergence of civil and defense MROs will create economies of scale and huge employment opportunities.”
Ashish Rajvanshi also said, “Add this to the ongoing modernization program to make India a huge market for defense aircraft, and what emerges is one of the most exciting, comprehensive, scale and digital MRO services within the borders of the nation.” is one.”
Adani Defense and Aerospace is the defense manufacturing arm of the Adani Group. The company said it has been built on the group’s core tenet of ‘nation building’, which is aligned with the “Atmanirbhar Bharat” initiative with a vision to help transform India into a destination for world-class high-tech defense manufacturing. ,