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The subsidiary ITA agrees a joint venture with Reginson and Raghu Vamsi

ITP Group expands its Externals business in India

ITP, through its subsidiary Industria de Tuberias Aeronauticas (ITA), has reached an agreement with Reginson Engineering Ltd (Reginson) and Raghu Vamsi Machine Tools (Raghu Vamsi) to create a joint venture in Hyderabad, India.

The joint venture, which will be named Reginson Engineering Private Ltd, will manufacture components designed to be assembled into rigid and flexible pipes or ducts for aerospace applications (i.e. end fittings) with the potential for further product range and capability expansion.

The joint venture's activity will be primarily to serve both Reginson and ITA demand needs. It is anticipated that the joint venture will be a primary source of end fittings for ITA's main programs going forward. The activity will start in September this year.

Reginson and ITA will initially own 45% each with Raghu Vamsi owning 10% with the potential of increasing its stake further in the coming years.

Reginson is a well known and recognized end fittings supplier in the aerospace industry based in the United Kigndom. Raghu Vamsi manufactures complex precision parts and subassemblies for the aerospace & defence industries in India. The combination of ITA, Reginson and Raghu Vamsi provides Reginson India with the right mix of capabilities to guarantee a successful development, namely ITA will provide market access, Reginson will offer industrial and product know-how and Raghu Vamsi will support with its local knowledge and industrial capabilities.

Reginson India is expected to grow substantially in the first years employing close to 80 people. An industrial plan has been put in place to secure capacity growth, achieve best quality standards, provide on time production and improve efficiency to guarantee long term competitiveness of the facility.

This step fits with ITP's strategy to create a global platform for its increasing Externals business, securing a competitive low cost source in Asia for end fittings, developing a platform for growth in other products, as well as guaranteeing capacity for the expected ramp up in demand in the coming years.

Note to the editor

ITP Aero is currently the ninth largest aircraft engine and components company in the world by revenue. Ranking among the top one hundred companies in the aerospace industry (Top 100 Aerospace Companies, PwC and Flight International). The company employs over 3,500 people at its production centres in Spain, United Kingdom, Mexico, the United States, Malta and India.

ITP Aero includes among its activities the design, research and development, manufacturing and casting, assembly and testing of aeronautical modules and engines. It also provides MRO services for a wide range of engines for regional airlines, business aviation, helicopters, industrial and defense applications. ITP Aero operates as a corporate entity within the Rolls-Royce group.

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