Airbus contracts Aequs for titanium machined parts

Airbus has awarded the contract to Aequs Aerospace for the supply of over 100,000 titanium machined parts forits A320neo (new engine option) programme.
Aequs is the only company which will be providing titanium parts for Airbus A320neo from India and it will be for teh first time from the country, Aequs officials said.
They said these parts will be delivered to the Airbus plant in Toulouse, France, where they will be assembled onto the pylon structure, used to mount engines onto the aircraft wing.
The contract positions Aequs as a "significant"Tier-1 supplier for Airbus. India is a strategic country for Airbus not onlybecause of market size, but also because of the access toskills and resources, Airbus division in India PresidentSrinivasan Dwarakanath told reporters here today.

Stating that Airbus is growing strength to strengthand is significantly contributing to Prime Minister NarendraModi's 'Make in India' initiative, he said, "this contract is a testimony to our commitment in developing the aerospaceecosystem in the country."
Aequs will perform the work at its 100,000 sq ftaerospace machining facility at the special economic zone inBelagavi, which was purpose-built to manufacture aerospace machined components for Airbus.

Commenting on the contract Aequs Chairman and CEO Aravind Melligeri said "We have a long-standing relationship with Airbus and have produced detail machined parts for its single aisle, long range, and large aircraft since 2009, including wing leading edge subassemblies for its A380."

Speaking about Airbus sourcing, Dwarakanath said, "In last ten years our sourcing volume has grown 16 times. Last year we were little over USD 500 million in terms of sourcing from India. When PM visited our facility last year our CEO has committed that cumulative volume over the next five years(2020) will be more than USD 2 billion."
Airbus has 55 per cent fleet share in the country and has more than 70 per cent order share.
Pointing out that 2016 is the year of neo, Dwarakanath said from the mid of this year Airbus will be delivering on anaverage one aircraft every week into India over the next 10years.