Precihole joins hand with Aequs for component manufacturing
The JV further strengthens Aequs manufacturing capabilities across all of the industry verticals where it has a strong presence
Precision machining manufacturer for aerospace companies Aequs said it has set up a joint venture with Precihole Machine Tools, a Mumbai-based provider of deep hole drilling solutions to the oil and gas industry, to manufacture components for the global market.
The facility, to be operational by August 2016, aims to leverage low cost manufacturing advantages while delivering to global companies which are keen to source precision machining components in emerging economies like India.
Apart from the oil and gas sector, deep hole drilling finds applications in defence, automotive, as well as aerospace. This strategic initiative further strengthens Aequs manufacturing capabilities across all of the industry verticals where Aequs has a strong presence. More specifically, the capabilities offered by this joint venture are directly applicable for aircraft landing gear in which the aerospace segment already provides precision-machined landing gear components, the company said in a statement..
Aravind Melligeri, Chairman & CEO, Aequs said, “It is part of our business strategy to strengthen our manufacturing offerings to our customers by partnering with industry experts such as Precihole and offer world class capabilities across the verticals. With this strategic partnership in Deep Hole Drilling, we are confident of positioning Aequs to be a significant player in the Oil & Gas sector when the market rebounds.”
Aequs serves customers like Baker Hughes and Halliburton among others in the oil and gas segment machining complex parts, used in drilling and oil exploration process.
V R Nayak, Co-founder, Precihole Machine Tools, said: “We are excited to partner with Aequs and exchange our knowledge and expertise and leverage the infrastructure available in Aequs SEZ to set up our new facility. This new relationship will lead to providing better services to our customers and we look forward to a robust growth with new business opportunities.”
