Lohia group plans to invest upwards of $10 million in the new plant in India.
Recently,Kanpur based Lohia Group has announced its acquisition of Israel-based Light & Strong Limited Company.With a tradition of excellence in manufacturing it has entered the defence sector to boost the ‘Make in India’ initiative.
The Israel based company is specializing in aerospace and military carbon fibre and glass fibre composite components production,fits in with Lohia Group’s expertise in large scale manufacturing across sectors.
Anurag Lohia, director of Lohia Group has said that with their belief in Make in India, the organisation is committed to support their indigenous aerospace and defence sector for its requirements of all things composite.
Lohia Group plans to invest upwards of $10 million in the new plant in India.And its new facilities will be part of the Uttar Pradesh government’s new defence corridor,in high-end key technologies into Aerospace and Defence composites domain.
It is expecting that work on the new facility at Kanpur will start by the middle of this year also expecting to commence production by early next year. The new facility will also target customers such as HAL, BDL and ISRO that need composite parts for ongoing projects.
Lohia Group aims to be a successful vehicle for executing offset obligations of global companies and also to explore other opportunities in the sector which align with its experience and expertise.