Dynamatic signs MoU with Spirit Aerosystems (Europe) Ltd.

Senior Personnel from Airbus, Spirit AeroSystems (Europe) Ltd., Spirit AeroSystems Inc. and Dynamatic Technologies Ltd. at Dynamatic Park subsequent to the signing of the MoU.

On Monday, 3rd December 2007, Dynamatic Technologies signed an Memorandum of Understanding with Spirit AeroSystems (Europe) Limited, the European division of Spirit AeroSystems, Inc. – the world’s largest supplier of commercial airplane assemblies and components.

The MoU between Dynamatic and Spirit Europe covers a significant complex metallic precision assembly for Airbus Single Aisle (A320 family) aircraft. The assembly by Dynamatic marks a major step towards further development of the parties’ strategic partnership.

Mr. Udayant Malhoutra, Chief Executive Officer and Managing Director of Dynamatic Technologies Limited commented “we are delighted to have started collaboration with Spirit for production of exacting aerostructures for Airbus.. This, on top of our prior learning’s from Hindustan Aeronautics Limited (HAL) is a major win for the Indian Aerospace industry.”

David Stewart, Commercial and Procurement Director for Spirit Europe, said “India is a logical place for us to develop a supply chain that meets our customers’ strategic intent. We have been working closely with Airbus (UK) to successfully secure approvals for production at Dynamatic. This agreement is a key milestone for us.”

Mel Hughes – Key Account Manager of Airbus added, “We are determined to support Spirit and are collaborating with them to develop a seamless Industrial Transfer Process for the ultimate benefit of both our companies and contribution to our Power 8 challenge.”

Dr Srinivisan Dwarakanath – Airbus Director International Cooperation and Country Manager-India commented: " India is a strategic country for Airbus. In line with the message delivered by our CEO Tom Enders last month in Bangalore, we are delighted to increase our footprint in India by including capable suppliers like Dynamatic to Airbus supply chain. Moreover, such partnerships will contribute to satisfy our offset obligations in India.”