QuEST Global Manufacturing Joins Hands with Saab AB to Set up Aerostructure Assembly Joint Venture

  QuEST Global Manufacturing Joins Hands with Saab AB to Set up Aerostructure
  Assembly Joint Venture

  *QuEST to hold 74% stake in the joint venture, with Saab holding 26%
  *New entity to be based out of QuEST Global’s SEZ in Belgaum, Karnataka
  *The new Joint Venture titled “Aero Assemblies India” will further
    strengthen Saab’s presence in India

Business Wire

BANGALORE, India -- November 27, 2012

QuEST Global Manufacturing signed a Joint Venture agreement with global
Defence and Security major, Saab to set up an ‘Aerostructure Assembly Joint
Venture.’ The new entity will manufacture and supply assemblies for the
technology intense commercial aerostructures market. As part of the agreement,
Saab will hold 26% stake in line with their objective to strengthen its
strategic presence in India. The new entity aptly called “Aero Assemblies
India” will be located in Belgaum, Karnataka, India where QuEST Global manages
a fully operational Special Economic Zone and houses the QuEST Global
Manufacturing division. Facilities for the joint venture will be developed
through 2013 and the unit will initially become operational with about 50
employees and is expected to ramp up to over 400 in the near future.

Commenting on the occasion, Aravind Melligeri, Co-Founder and Chairman of
QuEST Global,  said, “This joint venture with Saab is a clear indication of
our impetus in the aerospace sector and promises to go a long way in enhancing
our aerospace ecosystem within the SEZ at Belgaum. This milestone also
promises to unveil new vistas in Aerospace Manufacturing while providing India
with the added global exposure and expertise in this sector.”

He adds, “With this partnership, QuEST is now well poised to offer its
aerospace customers a full range of manufacturing supply chain solutions while
achieving our Global Manufacturing growth objectives through 2016 and beyond.”

The new entity has been established with a vision to develop a robust
aerospace business that is focused on build-to-print assemblies for the
emerging market opportunities in India. In addition to this, its long term
goal will be to emerge as an independent unit that would become a cost
effective solution provider of choice in the aerostructure assemblies space.

This partnership between the two companies will see knowledge transfer to
develop capability building for Assembly, Tooling, Material and Supply Chain
as well as technical training for assemblies and sub assemblies. With this,
QuEST Global Manufacturing further broadens its offerings in aerospace
manufacturing to its customers.

“We’re experiencing increased production rates during the coming years. This
partnership will provide a cost-efficient and reliable source of assemblies
acting as a complement to Saab’s in-house manufacturing. This is a long-term
commitment in a strategically important market for Saab and it further
establishes Saab as a global player in the commercial aerostructures market,”
says Kjell Johnsson, Head, Aerostructures, Saab.

The growing demand for aerospace products and services has propelled the
markets to explore partnerships that can offer joint capabilities that are
advanced and competitive to its customers. QuEST with its global delivery best
practices along with Saab’s strong technology lineage is well poised to be
among the few partnerships that will create an indelible impression in the
aerospace industry in the years to come.

About QuEST Global

QuEST Global is a leading provider of engineering and manufacturing solutions
in the aerospace & defence, aero engines, power generation, industrial
products and oil & gas domains.

QuEST Global Manufacturing, a group company of QuEST Global, is a provider of
precision machining, sheet metal fabrication, and assembly solutions to the
Aerospace, Automotive, and Oil & Gas markets. QuEST is leading private sector
Aerospace manufacturing in India through development of an Aerospace
Ecosystem, long term customer and supplier partnerships, and strategic joint
ventures all operating within the QuEST Global SEZ in Belgaum (Karnataka,
India). QuEST Global Manufacturing is an AS 9100 and TS 16949 certified
company.

More information is available at:www.quest-global.com

About Saab

Saab serves the global market with world-leading products, services and
solutions ranging from military defence to civil security. Saab has operations
and employees on all continents and constantly develops, adopts and improves
new technology to meet customers’ changing needs.

More information is available at: www.saabgroup.com

Notes to the Editor:

Global demand for passenger air travel is projected to grow by over 5% per
year for the next 20 years with the world commercial fleets expanding to more
than 39,500 airplanes; as per news reports Indian carriers themselves will
require 1,450 new aircraft worth $175 billion to cope with the growth in
passenger traffic in the same period. In keeping with this growing demand,
developing nations like China and India are fast becoming hubs for aerospace
manufacturing and offer cost plus skill advantages for its customers the world
over.

Contact:

QuEST Global
Sweta Patra, +91 80 4119 0900
Head - Marketing and Communications
sweta.patra@quest-global.com