French aerospace firm explores new areas in India
Dated 26/4/2006
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Paris: Sofema, a French aerospace company, is looking at the Indian market with renewed interest to not only supply sophisticated equipment and hardware, but also establish joint ventures with Indian entities.
The French company, which already has a major presence in India, is particularly keen to offer its wares in areas like homeland security, railway signalling and joint development of frontline technologies, Sofema officials said.
'India is a major market for Sofema and represents as much as 40 percent of our market,' said Jacques Reboul, chief operating officer of the company, which is an industrial partner to more than 40 European companies.
'Among our other plans, we're keen to partner with Hindustan Aeronautics Ltd (HAL) to jointly develop equipment like electronic equipment, complete oxygen solutions, cockpit systems and avionics,' he said.
'We believe the Indian government wants to purchase some 180 such helicopters,' Reboul told a media delegation from India on a visit to the facilities of some members of GIFAS, the French aerospace association.
Sofema officials said in internal security, the company was exploring options of selling its wares in areas like port security, intelligence systems for police, civil defence, aerial surveillance and site safety.
'Our intention is to provide single window advantage in traditional areas of our businesses' interests in India while entering new growth markets like energy, meteorology, railways and more specifically safety and security,' Reboul said.
Sofema has been associated with Indian civil and military contracts in India since 1953 via collaborations with HAL Airports Authority of India, the Indian Meteorological Department and Pawan Hans.
The French firm has also secured approval from the Directorate General for Civil Aviation for establishing a wholly-owned subsidiary in India, Sofema Helicopter Services, to set up a distribution centre for helicopter parts.
This apart, it has entered into a joint venture with a Delhi-based company - Alpha Technologies - to set up a joint venture in Bangalore for a defence oriented company for equipment supply.
While the French company would hold a six percent stake in the venture - which is the maximum foreign equity permitted by the Indian government - the rest will be held by Alpha, Sofema officials explained.