Bangalore, Oct 9 (IANS) Axis Aerospace and Technologies Ltd (AAT) is scouting for acquisitions to expand its offering in engineering services for civil, commercial and defence offset markets.

"As part of our growth strategy, we are actively scouting the market for acquisitions to expand our portfolio and meet growing demands of our global customers," AAT vice-chairman Sudhakar Gande said in a statement here Tuesday.

The city-based company, promoted by Rajya Sabha member and entrepreneur Rajeev Chandrashekar, has recently set up a new facility at Kirloskar Business Park in this tech hub to offer integrated product development services to its marquee customers, including global aerospace major Airbus.

"We have fostered strong ties with marquee firms like Airbus, Bombardier, Catarpillar, DCNS, a French naval shipbuilder, MBRDI (Mercedes-Benz Research and Development India), Premium Aerotec, Thales and Volvo," Gande said.

The company has set up a dedicated offshore development centre with its subsidiary (CADES) to develop fuselage for Airbus, while the new facility will provide solutions, including product development and manufacturing processes for aerospace, defence, automotive and heavy engineering industries.

"Along with our two subsidiaries (Axis IT&T and CADES), we offer a range of solutions in engineering services, embedded systems, avionics, testing, system integration, manufacturing and life-cycle support," Gande pointed out.

As the principal offset partner for global original equipment manufacturers, the company has aligned its services strategically to provide end-to-end solutions.

"We are on track to achieve Rs.500 crore revenue in this fiscal (2012-13), which will be a growth of about 70 percent over the last fiscal (2011-12)," Gande asserted.

The company has 1,500 employees across 10 delivery centres worldwide.

The company plans to set up a 75-acre supply chain cluster in the upcoming aerospace park near the Bangalore international airport at Devanahalli, about 40 km from the city centre, to provide manufacturing and allied support facilities to global aerospace and defence firms.

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Axis Aerospace eyes acquisitions