Goa-based Kineco Limited (KINECO), a leading manufacturer of advanced composite products for the aerospace, defense, and railway sectors, has announced the acquisition of an additional 49% equity stake in its subsidiary, Kineco Kaman Composites India Private Limited (Kineco Kaman), from the U.S.-based J.V. partner Kaman Aerospace Inc. This transaction makes Kineco Kaman a wholly-owned subsidiary of Kineco Limited.
Kineco Kaman was founded in 2012 as a joint venture between Kineco and Kaman Aerospace, with the aim of addressing the growing demand for advanced composite parts and sub-assemblies for the aerospace and defense industries in both India and globally. Over the past 12 years, the company has earned a strong reputation for manufacturing complex composite components and sub-assemblies used in aerospace, defense, and space applications. The company has received multiple Gold Supplier awards for excellence in quality and 100% on-time delivery from global Original Equipment Manufacturers (OEMs). Kineco Kaman has also been a preferred supplier for major Indian defense and space programs, including ISRO’s Chandrayaan-3 and Gaganyaan missions, as well as defense helicopter and combat aircraft programs.
Shekhar Sardessai, Founder, Chairman and Managing Director of Kineco Limited, expressed his appreciation for the long-standing partnership with Kaman Aerospace, highlighting the company’s consistent performance and world-class capabilities. “In over a decade of partnership with Kaman, we built a company that has demonstrated global competitiveness and credibility in the aerospace industry. We are deeply grateful to Kaman Aerospace for their unwavering support and trust throughout the years,” Sardessai remarked.
Sardessai also emphasized that this acquisition aligns with the company’s strategic focus on deepening its presence in the aerospace and defense sector and will be value accretive to the company in the medium to long term. He added, Kineco now plans to integrate all of its aerospace & defence businesses into a single SBU to be branded as ‘Kineco Aerospace & Defence’. This unification strategy coupled with full control of the SBU, will now position Kineco to pursue more ambitious growth targets.
About Kineco Group
The Kineco Group, founded by Shekhar Sardessai in 1995 and based in Goa, India, is a leading composite manufacturing company recognized for its innovative products across aerospace, defense, mass transportation, and renewable energy sectors. The company has significantly contributed to the “MAKE IN INDIA” initiative.
Kineco’s Aerospace & Defence SBU manufactures advanced composite parts and assemblies for aerospace and defense customers at its state-of-the-art facility in Goa which has achieved several global certifications such as AS9100 (Rev-D) NADCAP, ISO 14001 & 45001 and ZED (Zero Defect – Zero Effect, gold rating, besides several other customer specific qualifications. Kineco Aerospace & Defence exports its products to global aerospace OEMs, and their tiers. It is also a major supplier of composite parts and assemblies to India’s Hindustan Aeronautics Limited (HAL) Advanced Light Helicopter program, Light Combat Aircraft (LCA) Program, as well as the Indian Space Research Organization’s (ISRO’s) satellite & launch vehicle programs, notable amongst which are Chandrayaan-3 and Ganganyaan missions. This SBU also contributes to Military and Navy programs through its involvement with DRDO and Defence Shipyards for critical supplies such as Sonar Domes, Missile components, Bridging System, Radomes etc.
Kineco’s Rail Business SBU plays a key role in modernizing Indian Railways, supplying complete interiors for ‘Vande Bharat’ trains and has recently launched the “Kineco Global Rail” brand to introduce its innovative patented products in rail interior space globally.
The group has also expanded its operations through Kineco Exel Composites, a Joint Venture with Finland’s Exel Composites focusing on Pultrusion technology for composite structural profiles predominately for the wind energy sector besides telecom, and construction.
