UK precision engineering group Hampson Industries expects to have a new manufacturing venture up and running in India by May.
The company will begin by manufacturing automotive parts at the 4,650m2 (50,000ft2) site, but chief executive Kim Ward says the company will progress to manufacturing "less complex" aerospace components there, probably around the end of the year. Ward says Hampson is also considering the manufacture of composite components there at a later date.
Ward is confident that the ability to manufacture components for customers including Airbus at a lower cost in India will lead to increased business for its Western sites too. He adds that the company will also target Indian and Chinese customers through the new facility.
Hampson is investing an initial £2 million ($3.5 million) in the venture and has a further 14,000m2 available for development at the site, Ward says.
Ward says he sees composite components, which currently account for around 15% of Hampson’s business, growing to as much as 50% within 3-5 years. "This will all be growth," he adds. Late last year the company acquired US composites specialists Lamsco West and Coast Composites late last year. Ward declines to comment on the possibility of further acquisitions.
Source: Flight International