Wayne Burt Group, a deep value fund with interests in aviation and other sectors, on Friday said it has signed seven Memoranda of Understanding (MoUs) with GE Aviation through its group company Kerns Aero Products.
In a statement issued here, Wayne Burt Group said MoUs with GE Aviation has been signed for Indian Coast Guard Aircraft Programme (Sikorsky aircraft), Airbus’ Indian Air force A330 MRTT Tanker programme; AH-64 aircraft under the Attack Helicopter Programme; India VVIP Helicopter Programme; Boeing Apache Helicopters Programme; Light Combat Aircraft – Tejas Engine Programme and S70-B helicopters Programme (Sikorsky Aircraft).
According to Wayne Burt Group president and CEO T.G.S. Mahesh, being the defence offset partner for GE, group company Kerns Aero has good growth potential with regard to Indian defence industry. The statement said Kern Aero’s plant is located near here and around $25 million has gone into it as investment. The company manufactures high precision, complex, special process aircraft engine components for aircrafts and rocket engines. (IANS)