Recently, Kineco Exel Composites India (KECl), a joint venture between Exel Composites Plc (Finland) and Kineco Ltd (India), has signed a multi-year agreement to supply pultruded carbon fiber sheets to major wind turbine manufacturers in Southeast Asia for wing masts. The company said that carbon fiber sheets are an important component of wind turbine blades, with world-class strength, stiffness, and lightweight characteristics. With the growing length of blades, this field is currently in a rapid growth stage. Shekhar Sardessai, founder, chairman, and managing director of Kineco Ltd., said: "In more than a decade of working with Kaman, we have built a company with global competitiveness and credibility in the aerospace industry. We thank Kaman Aerospace for its support and trust over the years.
Sardessai also emphasized that the acquisition is in line with the company's focus on deepening its influence in the aerospace and defense sectors and will add value to the company in the medium and long term. He announced that Kineco plans to integrate all its aerospace and defense businesses into one SBU, branded as Kineco Aerospace & Defense. This unified strategy, coupled with full control of the SBU, enables Kineco to pursue more ambitious growth targets.
The company said that the agreement is based on the important research and development work carried out by KEC! and the customer, and the two parties have agreed not to disclose the contract value. However, it was revealed that KEC will deliver carbon fiber plates from its new factory near Goa, India, which is currently in the final stage of construction and is expected to start deliveries in the second half of 2024, with initial supplies to begin. At the same time, the company also stated that by leveraging KEC!'s new factory in India, customers will be able to obtain cutting-edge carbon fiber plates produced in India.
