ThyssenKrupp Aerospace, part of ThyssenKrupp AG, the Germany-based conglomerate, and supplier of aerospace materials and logistics, announced its foray into the Indian aerospace market with the setting up of a facility here.

This has been sited at the Aerospace Special Economic Zone, near the international airport, for processing of materials used in the segment.

"We will be sourcing a wide range of metals like titanium, aluminium, steel and high performing alloys, among others, from across the country. We will process and stock here and supply to tier-1, tier-2 and tier-3 vendors," said Joachim Limberg, chairman of the management board of ThyssenKrupp AG for business area materials services.

He said the company would help Indian companies to make parts for Original Equipment Manufacturers, by supplying material. It has installed machining centres, cutting and milling units, and testing facilities at the Bengaluru plant. ThyssenKrupp operates 40 such units across the world and the new facility is to cater for the growing needs of Indian aerospace components makers and public sector undertakings in the defence sector.

The company has invested around Rs 25 crore in the new facility, which employs around 30 people. "More than our investment in the physical facility, we will be investing a substantial amount of money in sourcing and stocking materials of very high precision and performance," said Jurgen Funke, president, ThyssenKrupp Aerospace.

The facility will help the company gain market share in South Asia and go close to customers to address the latter's needs, he said. Spread across 3,300 sq metres, the facility will stock the whole range of aerospace materials. The idea is to keep ready cut-to-size and machine-ready material that is shipped to the customer just-in-time, helping them save around three months for anything needed, said Gopi Hanumanthappa, managing director, ThyssenKrupp Aerospace India.

It also plans to partner in the central government's Make in India programme. "This facility will play a critical role in developing a system in India for the growth of aerospace manufacturing," said Limberg. Also, ThyssenKrupp is in the process of finalising a plan for a new manufacturing plant for elevators, at Chakan near Pune. It is expected to invest around Rs 300 crore, sources said.

ThyssenKrupp's presence in this country goes back to 1860. Currently, with annual sales of about Rs 3,000 crore, India is the third largest market for the company in the Asia-Pacific.

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ThyssenKrupp Aerospace announces India foray