Chennai, Nov 27 (KNN) Italy’s Vega Composites has signed an agreement with Merlinhawk Aerospace Pvt. Ltd. to set up a manufacturing and design facility in the defence corridor in Tamil Nadu for advanced composites material-based products. 

An agreement was signed in the presence of the Indian Ambassador to Italy and San Marino, Neena Malhotra. 
As per the agreement, both firms will aim at tapping the growing market of India while developing design expertise and transferring manufacturing knowhow to India.

The joint venture is the first such agreement signed between an Italian and Indian company, post the signing of the defence cooperation agreement between Italy and India, Malhotra pointed out.

The Ambassador also said the joint venture was working on a broad scope of products that would be beneficial to various companies and industries in India and involved the transfer of technology, which would enhance the technical capabilities in the country.

“Merlinhawk Composites, by leveraging upon Vega Composites’ expertise, will be able to offer cutting edge solutions in composites technologies for end-users in India and across the region,” Ram R. Ramineni, Managing Director of Merlinhawk, said.

Vega Composites is a group company of Gruppo Pasquali. The CEO of Pasquali Group, Roberto Lapini, expressed satisfaction upon reaching the agreement.

(KNN Bureau)