The Mahindra Group plans to enter the aerospace segment by manufacturing
aircrafts in the two-to-twenty-seater range.
Mahindra Aerospace (MAPL), belonging to the group, plans to invest Rs 175
crore over the next four-five years to manufacture 475 aircrafts.
Besides, the group has also announced the acquisition of two Australia based
companies--Aerostaff Australia and Gippsland Aeronautics. Mahindra is expected
to hold a 75.1 per cent stake in each company.
According to sources, a plant is to be set up in Bangalore to complement
these acquisitions and provide dual shoring and benefits to customers.
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