India's Lohia Group has entered the aerospace and defense sector by acquiring Israeli composite company Light & Strong Ltd. No financial details were disclosed.
Based in the Kannot Industrial Park near Gedera, south of Tel Aviv, Light & Strong specializes in aerospace and military carbon fiber and glass fiber composite components production. Lohia Group said that the Israeli firm’s military technology manufacturing capabilities will provide a synergistic fit for its expertise in large scale manufacturing across sectors.
Lohia Group added that it would leverage Light & Strong’s client base, which includes Israel's Ministry of Defense. The Israeli facility is a well-established aero-structure manufacturer for platforms such as Unmanned Aerial Vehicles (UAVs) and passenger and cargo aircraft. These customers will now be supported by Lohia Group with its facilities in Israel and India.
As part of the Indian government's ‘Skill India’ and ‘Make in India’ initiatives Lohia Group says it will use this acquisition to establish India as an exporter of customized composite products to global OEMs.
Lohia Group director Anurag Lohia said, “Our acquisition of Light & Strong allows us to integrate our manufacturing expertise with cutting edge technology to help make India the exporter of choice for global OEMs. With our belief in ‘Make in India’, we are committed to supporting our indigenous aerospace and defense sector for its requirements of all things composite.”
Published by Globes, Israel business news - en.globes.co.il - on February 13, 2019
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