Mahindra & Mahindra : Airbus Helicopters and Mahindra Defence progress in their 'Make in India' partnership

• Both companies are engaged in identification of potential industrial sites, screening of existing local supply chain and defining initial work packages to be transferred to India
• Towards this a 'Statement of Intent' has been signed in the presence of the Indian Prime Minister Narendra Modi and the visiting French President Francois Hollande

Chandigarh, 24 January 2016 - Significant progress has been made by Airbus Helicopters and Mahindra Defence following their Memorandum of Understanding (MoU) last July to form a Joint Venture as a part of the 'Make in India' initiative to produce military helicopters in India. Affirming their commitment, representatives of both companies signed a Statement of Intent today, in the presence of the Indian Prime Minister Narendra Modi and the visiting French President Francois Hollande.

'Through this partnership, we target building several of our globally leading helicopter models in India. This will lead to the transfer of state-of-the-art technologies, development of manufacturing activities and creation of high-skilled jobs in India,' said Guillaume Faury, Airbus Helicopters President & CEO.

Mahindra Defence and Airbus Helicopters have already initiated industrial relationship to produce helicopter parts locally and are defining additional work packages to be industrialised in India which would facilitate the required rapid ramp-up in the case of a programme award to the joint venture. Simultaneously, both sides are evaluating potential industrial sites and are screening the existing local supply chain, while moving ahead with the setting up of the Joint Venture.

'We have made significant progress in setting up the joint venture and together the companies are creating a world class advanced helicopter production facility in India,' said S. P. Shukla, Group President, Aerospace and Defence, Mahindra & Mahindra Ltd.

The companies are proposing to set-up a final assembly line in India, develop tier-1 and tier-2 suppliers and make extensive transfer of technology, with the intent to ultimately achieve 50% indigenous content.

'Mahindra Defence and Airbus Helicopters have agreed on a blueprint that can put India on the world map for military helicopter manufacturing,' said Pierre de Bausset, President of Airbus Group India.

'The helicopters we are proposing are of proven designs. We are laying the groundwork with the objective to ramp-up quickly, said Devendra Bhatnagar, CEO Mahindra Defence Naval Systems.

The JV formation will be subject to the customary regulatory approvals.

About Mahindra Aerospace and Defence Sector
Mahindra Aerospace has led the Mahindra Group's foray into utility aircraft and aerostructure manufacturing since 2008. Its utility aircraft business, based in Australia, currently produces the Airvan 8, the most capable, rugged and versatile utility aircraft in its class. Certified in 38 countries, over 200 are in service. Mahindra Aerospace is also developing a 10-seat turboprop, the Airvan 10, which is scheduled for certification in 2015.

Mahindra Defence has companies engaged in catering to needs of all three wings of Defence forces -Army, Airforce and Navy and para military forces. The product range includes armoured vehicles, underwater warfare equipment, simulators, radars and surveillance equipment's etc.

About Mahindra
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.

In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world's largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times 'Boldness in Business' Award in the 'Emerging Markets' category in 2013.

Visit us at www.mahindra.com

About Airbus Helicopters (www.airbushelicopters.com)
Airbus Helicopters is a division of Airbus Group. The company provides the most efficient civil and military helicopter solutions to its customers who serve, protect, save lives and safely carry passengers in highly demanding environments. Flying more than 3 million flight hours per year, the company's in-service fleet includes some 12,000 helicopters operated by more than 3,000 customers in 152 countries. Airbus Helicopters employs more than 23,000 people worldwide and in 2014 generated revenues of 6.5 billion Euros. In line with the company's new identity, fully integrated into Airbus Group, Airbus Helicopters has renamed its product range replacing the former 'EC' designation with an 'H'.

For more information, please contact:
Sunil Gate
Mahindra & Mahindra Ltd.
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Guillaume Steuer
Airbus Helicopters
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Priscilla Yip
Airbus Helicopters
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Sunny Guglani
Airbus Group India
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