ThyssenKrupp Aerospace to build aerospace materials plant in India

ThyssenKrupp Group's subsidiary ThyssenKrupp Aerospace is reportedly planning to build its first facility in Bengaluru, India.

Planned to be located at Aerospace Special Economic Zone near the international airport, the 3,300m² plant will process materials and source various metals such as titanium, aluminium, steel and alloys for the aerospace segment.

ThyssenKrupp business area materials services chairman Joachim Limberg was quoted by Business Standard saying: "We will process and stock here, and supply to tier-1, tier-2 and tier-3 vendors.

"This facility will play a critical role in developing a system in India for the growth of aerospace manufacturing."

The plant will feature machining centres, cutting and milling units, and testing facilities to produce cut-to-size and machine-ready materials. It has a workforce of 30.

ThyssenKrupp will serve domestic companies, which produces components for original equipment manufacturers (OEMs).

With the new project, ThyssenKrupp will be able to meet increasing needs of Indian aerospace component makers and defence segment.

ThyssenKrupp Aerospace president Jurgen Funke told the newspaper: "More than our investment in the physical facility, we will be investing a substantial amount of money in sourcing and stocking materials of very high precision and performance."

India is said to be the company's third largest market in the Asia Pacific generating Rs30bn ($482.7m) revenues for the company.