The Lohia group plans to invest upwards of $10 million in the new plant in India.
To boost the ‘Make in India’ initiative further, Kanpur based Lohia Group has entered the defence sector and has announced its acquisition of Israel-based Light & Strong Limited Company.
The Israel based company is specializing in aerospace and military carbon fibre and glass fibre composite components production, and this fits in with Lohia Group’s decades-long expertise in large scale manufacturing across sectors.
Commenting on its acquisition of the company in Israel, Anurag Lohia, director of Lohia Group, 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.
Based in Kanpur, Lohia Group’s India facilities will be part of the Uttar Pradesh government’s new defence corridor, bringing in high-end key technologies into Aerospace and Defence composites domain. The group plans to invest upwards of $10 million in the new plant in India.
Work on the new facility at Kanpur is expected to start by the middle of this year with the group confident that production can commence by early next year. The Indian facility will also target customers such as HAL, BDL and ISRO that need composite parts for ongoing projects.
The Group aims to become a successful vehicle for executing offset obligations of global companies through this endeavour and to also explore other opportunities in the sector which align with its experience and expertise.