Raymond chairman said the aerospace and defense business has been the group's strongest growth area, aided by the China+1 supply chain shift, and hinted at a possible future demerger of this unit from the auto…
Raymond chairman said the aerospace and defense business has been the group's strongest growth area, aided by the China+1 supply chain shift, and hinted at a possible future demerger of this unit from the auto components business.
By ScoutQuest · · 1 min read
Heard on business television between 10:19:19 - 10:22:19 IST.
- Said aerospace and defense has seen the biggest upward move in the group over the past year, helped by China+1 supply chain diversification
- Said Raymond's titanium machining quality has attracted more international aerospace customers
- Mentioned acquiring Maini Engineering during COVID distress and investing in a large new facility in Andhra Pradesh
- Said growth numbers for this segment will be released next week
- Said hiring of a former HAL CEO to run the defense business reflects ambition in the space
- Said a further demerger between auto components and aerospace/defense businesses makes sense eventually, but nothing is planned or timelined yet
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