Aero India 2009, Bangalore, India, February 12, 2009 – Textron Systems, a Textron Inc. (NYSE: TXT) company, and QuEST Global, a leading provider of outsourced engineering services and manufacturing, today announced that the two companies are working together on the development of the QuEST Global Special Economic Zone (SEZ) in Belgaum, Karnataka, India.
The SEZ, endorsed by the Ministry of Commerce & Industry, covers 300 acres and is focused on Precision Engineering. As a sector-specific economic zone, this area will provide build-to-suit requirements to companies seeking to establish businesses and manufacturing facilities in the region by providing a world-class infrastructure, particularly for the aerospace and defense, industrial and automotive industries. Development of the SEZ, currently in Phase I, began in January 2009.
“With growing demands for state-of-the-art defense services and solutions, India is a key country in a region that is important to our international growth,” stated Frank Tempesta, President and CEO, Textron Systems. “We look forward to partnering with the Indian Government, the Indian Armed Forces and QuEST in strengthening India’s defenses.”
“This relationship marks the beginning of the Aerospace & Defense industry’s development at the SEZ,” said Aravind Melligeri, Chairman and Co-founder, QuEST Global. “This SEZ provides a platform for Foreign Direct Investments, products and services in support of the Indian defense industry.”
Under the terms and conditions of a Memorandum of Understanding, Textron Systems and QuEST Global will work together to develop the manufacturing capabilities within the SEZ.
About Textron Systems
Textron Systems Corporation has been providing innovative solutions to the defense, homeland security and aerospace communities for over 50 years. Known for its precision smart weapons, intelligent battlefield systems, surveillance systems, intelligence software solutions, aircraft control components, piston engines, armored vehicles and unmanned aircraft systems, Textron Systems includes AAI, HR Textron, Lycoming Engines, Overwatch Tactical Operations, Overwatch Geospatial Operations, Textron Defense Systems, and Textron Marine & Land Systems. Textron Systems Corporation is an indirect wholly owned subsidiary of Textron Inc.
More information is available at www.textronsystems.com.
About Textron Inc.
Textron Inc. (NYSE: TXT) is a $14.2 billion multi-industry company operating in 28 countries with approximately 42,000 employees. The company leverages its global network of aircraft, defense and intelligence, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Systems and Textron Financial Corporation.
More information is available at www.textron.com.
About QuEST Global
We are Quest Global. We’re in the business of engineering, but what we’re really building is a brighter future. It’s not just what we do, but why we do it that makes us different. We believe engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow. For 25 years, we have strived to be the most trusted partner for the world’s hardest engineering problems. As a global organization headquartered in Singapore, we live and work in 17 countries, with 56 global delivery centers, driven by 13,000+ extraordinary employees who make the impossible possible every day. Quest Global brings deep industry knowledge and digital expertise to deliver E2E global product engineering services. We bring together technologies and industries alongside the contributions of diverse individuals and their areas of expertise to solve problems better, faster. This multi-dimensional approach enables us to solve the most important and large-scale challenges across the Aerospace & Defense, Automotive, Energy, Hi-Tech, Healthcare, Medical Devices, Rail and Semiconductor industries.
Anubhuti Agarwal: Anubhuti.Agarwal@quest-global.com