- The Hindu
MTAR Tech to acquire aerospace, defence MSME
MTAR Technologies plans to acquire Gee Pee Aerospace & Defence, an MSME, for ₹8.82 crore.
The acquisition is expected to provide a wide array of benefits under MSME category, including the increased potential of entering into offset partnership with global OEMs, as foreign partners get an offset credit of up to 1.5 multiple on Indian content, it said. Also, the public procurement policy mandates government departments to procure up to 20% of their requirements through MSMEs, something expected to augment the customer base of MTAR with the acquisition.
In addition, the move will enhance the capacity that enables the company to address more orders, thus expanding the product portfolio, MTAR said in a release on Tuesday.