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02/23/2016

ITP Externals acquires 100% of its India joint venture

ITP Externals has formalized the acquisition of the 66% stake that remained outside of its control in its India joint venture. As a result, ITP Externals has acquired the 33% stake that until now belonged to Raghu Vamsi Trading PVL as well as the remaining 33% from Reginson Engineering. Both firms were founding partners alongside ITP in 2011.

From now on, the plant will be known as ITP Externals India and will be fully owned by ITP Externals, a subsidiary of ITP dedicated to the design and manufacture of aircraft engine external components. These are elements which, despite not generating thrust, are essential for the correct running of the engine, such as oil, fuel and air or fire protection systems.

ITP Externals India is a plant dedicated exclusively to the production of raccords or 'end-fittings' for subsequent welding onto rigid tubes for aircraft engines.

Its activity is expected to grow significantly in the coming years together with an evolution towards more complex products. 
The operation strengthens ITP Externals' market position, as it currently has two added value centres in Zamudio (Bizkaia, Spain), a tube and 'end fittings' production center in Querétaro (Mexico) and another one in Hyderabad (India), as well as a design centre in Alcobendas (Madrid, Spain).

ITP forecasts major growth in its ITP Externals subsidiary over the coming years, with an expected two-fold increase in production during the course of its 2016-2020 Strategic Plan and an evolution toward the design and production of more complex parts.

Regarding the acquisition, ITP's CEO Ignacio Mataix remarked: "We are very satisfied with the evolution of our production in India, which has led us to acquire 100% of the company. We have fulfilled all of the production, cost and quality goals that we set ourselves four years ago. Given the importance of 'externals' in the ITP Strategic Plan 2016-2020 which we are in the process of launching, this operation gives the company a significant boost in terms of competitive advantage".


Notes 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 3,800 people at its production centres in Spain, United Kingdom, Mexico, the United States, Malta and India.

Among its activities, ITP Aero includes 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.

Louis Trollope
Communication Specialist
M: (+34) 610 267 334
louisjon.trollope@itpaero.com
www.itpaero.com

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