Sattva looks for buys in aerospace sector

Bangalore-based realty major Sattva group, which forayed into aerospace business with acquisition of two companies, AASPL and E Tech, said it is looking for more acquisitions in this space.
Sattva AASPL is an approved design organisation by both civil and military aviation authorities in the country, while Sattva E Tech provides end-to-end services for product design, development and low and medium volume manufacturing in the embedded space.
Bijay Agarwal, managing director of Sattva group, said, “We see huge potential in Indian aerospace in the coming years. We are also on the lookout for suitable acquisitions in this space, which will be funded internally. We are not looking to go for IPO in the next 3 years.”
The group has been allotted five acres in the proposed aerospace SEZ in Bangalore, and is waiting for physical possession to commence the construction of a facility by third quarter of this fiscal 2011.
20/02/11 N Vasudevan/mydigitalfc.com

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Categories: Indian Aviation- In General Feb 2011