Axis aerospace ventures to consolidate

Chennai/ Bangalore: Rajeev Chandrasekhar, Rajya Sabha MP and serial entrepreneur, who exited BPL Mobile with its sale to the Essar Group for an enterprise value of $1.2 billion, may be well known as the man who is consolidating and emerging as a major player in the regional media business in South India.
Another aspect of his business which is growing in prominence is the aerospace and defence technology services under Axis Aerospace & Technologies. On Monday, the company announced a consolidation move in which three of his various companies he had acquired in this sector are being merged to create — Axis Aerospace & Technologies. The combined entity will have 1,600 people, with a presence across 10 countries and many of the marquee global aerospace, defence and automobile companies among its clients and with a cumulative revenue of close to $100 million.
The combined entity, according to investment bankers close to Axis Aerospace, is expected to raise around $50 million going forward to scale up this business and have a major say in the defence and aerospace technology services. While a lot of software services companies have this vertical (defence & aerospace technology) as part of their end-to-end offerings, there are very few niche companies who solely focus on this vertical which is set for a major growth given the slew of offset deals expected to come India’s way.
14/09/11 Raghuvir Badrinath/Business Standard

To Read the News in full at Source, Click the Headline

Categories: Indian Aviation- In General Sep 2011