European Aviation Holding Acquires Indamer

Mumbai: European Aviation Holding Co Pvt Ltd on Tuesday acquired Indamer Co Pvt Ltd, a leading Mumbai-based MRO firm for an undisclosed amount. However, the move is a major consolidation in the domestic MRO industry, since it only leaves two leading firms in the business: Max Aerospace and Air Works Engineering Pvt Ltd, in which publicly-traded engineering company Punj Lloyd Ltd and US-based private equity firm Global Technology Investment Group each hold a 33 percent stake.
Bharat Malkani, one of the directors of the European Aviation Holding, is also the chairman of Max Aerospace and Aviation Ltd, which was in direct competition with Indamer.
Malkani told Mint that the Indamer acquisition has helped him to offer integrated solutions to the aviation industry.A Bangalore-based aviation consultant said further consolidation is expected in the MRO industry, since it is fragmented, adding that it could also witness participation of foreign players once the aviation industry stabilizes. He declined to be identified. Founded in 1947, Indamer has been maintaining both fixed and rotary wing aircraft for private owners, charter operators, state governments and training institutes.
20/01/09 P.R. Sanjai/Wall Street Journal/AMT Online

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Categories: Foreign Jan 2009, Indian Aviation- In General Jan 2009