M&M open to stake sale in Mahindra Aerostructure

MUMBAI: Mahindra Aerostructure, the aero structure arm of Mahindra Aerospace, may opt for a stake sale in return for technology from a right partner. "We are not offering equity in the aerospace arm; we might offer equity in the aero structure business.

If a strong partner says, 'I will offer you technology for a stake and not for fees,' we may say yes and if some weak partner says, 'we will offer you technology, but need capital injection' , we may look at that opportunity as well," Hemant Luthra, President, Systech Division, Mahindra & Mahindra told reporters.

Mahindra Aerospace is a subsidiary of Mahindra Sytech, which supplies components, and engineering and design service to the automotive and aviation industry.

The company undertook historic maiden test flight of C-NM 5 in Australia on September 1. C-NM 5 is the first five-seater aircraft built by M&M in a public-private partnership with the National Aeronautic Labs. The engineers at Mahindra Aerospace & National Aeronautic Lab spent three years in designing this aircraft.

The prototype was built over a 10-month period by the rapid prototyping team at GippsAero in their facilities near Melbourne, Australia. Flight testing is being performed at GippsAero by a professionally-trained test pilot supported by GippsAero's flight test team.