EADS, Pipavav to Form Aircraft Maintenance Venture in India
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Pipavav Shipyard Ltd., India’s biggest shipbuilder by market value, said it agreed to form a venture with European Aeronautic, Defence & Space Co. and SKIL Infrastructure Ltd. to set up an aircraft maintenance facility.
EADS, the maker of Airbus SAS aircraft, will acquire a 26 percent stake in the Indian venture, Pipavav said in a statement to the Bombay Stock Exchange today. EADS may further increase the holding to 49 percent, according to the statement.