Textron Systems, a Textron Inc. (NYSE: TXT) company, and QuEST Global, a leading provider of outsourced engineering services and manufacturing, today announced that the two companies are working together on the development of the QuEST Global Special Economic Zone (SEZ) in Belgaum, Karnataka, India.
The SEZ, endorsed by the Ministry of Commerce & Industry, covers 300 acres and is focused on Precision Engineering. As a sector-specific economic zone, this area will provide build-to-suit requirements to companies seeking to establish businesses and manufacturing facilities in the region by providing a world-class infrastructure, particularly for the aerospace and defense, industrial and automotive industries. Development of the SEZ, currently in Phase I, began in January 2009.
“With growing demands for state-of-the-art defense services and solutions, India is a key country in a region that is important to our international growth,” stated Frank Tempesta, President and CEO, Textron Systems. “We look forward to partnering with the Indian Government, the Indian Armed Forces and QuEST in strengthening India ’s defenses.”
“This relationship marks the beginning of the Aerospace & Defense industry’s development at the SEZ,” said Aravind Melligeri, Chairman and Co-founder, QuEST Global. “This SEZ provides a platform for Foreign Direct Investments, products and services in support of the Indian defense industry.”
Under the terms and conditions of a Memorandum of Understanding, Textron Systems and QuEST Global will work together to develop the manufacturing capabilities within the SEZ.
The SEZ, endorsed by the Ministry of Commerce & Industry, covers 300 acres and is focused on Precision Engineering. As a sector-specific economic zone, this area will provide build-to-suit requirements to companies seeking to establish businesses and manufacturing facilities in the region by providing a world-class infrastructure, particularly for the aerospace and defense, industrial and automotive industries. Development of the SEZ, currently in Phase I, began in January 2009.
“With growing demands for state-of-the-art defense services and solutions, India is a key country in a region that is important to our international growth,” stated Frank Tempesta, President and CEO, Textron Systems. “We look forward to partnering with the Indian Government, the Indian Armed Forces and QuEST in strengthening India ’s defenses.”
“This relationship marks the beginning of the Aerospace & Defense industry’s development at the SEZ,” said Aravind Melligeri, Chairman and Co-founder, QuEST Global. “This SEZ provides a platform for Foreign Direct Investments, products and services in support of the Indian defense industry.”
Under the terms and conditions of a Memorandum of Understanding, Textron Systems and QuEST Global will work together to develop the manufacturing capabilities within the SEZ.
