This new facility would be built at its SEZ in Belagavi to leverage Precihole’s vast experience and specialization in the field of Deep Hole Drilling (DHD)
Aequs, one of India’s leading global precision machining companies catering to Aerospace, Automotive, and Oil & Gas sectors, signed an agreement with “Precihole Machine Tools”- a leader and specialist in providing Deep Hole Drilling solutions. This joint venture will enable both companies to combine technological expertise and infrastructure to jointly manufacture precision machined components for international markets. This new facility is projected to be operational by August 2016 and aims to expand its workforce over the next couple of years.
Mumbai-based Precihole is an industry leader spanning over 30 years in producing reliable, cost effective Deep Hole Drilling solutions for global Oil & Gas industry leaders. The joint venture aims to leverage low cost manufacturing advantages while delivering to global companies which are keen to source precision machining components in emerging economies like India. Apart from the Oil & Gas sector, deep hole drilling finds applications in Defence, Automotive, as well as Aerospace. This strategic initiative further strengthens Aequs manufacturing capabilities across all of these industry verticals where Aequs has a strong presence. More specifically, the capabilities offered by this joint venture are directly applicable for aircraft landing gear in which the Aerospace segment already provides precision-machined landing gear components.
This new venture marks an important milestone for both the organizations and brings a win-win solution to customers.
Aravind Melligeri, Chairman & CEO, Aequs said, “It is part of our business strategy to strengthen our manufacturing offerings to our customers by partnering with industry experts such as Precihole and offer world class capabilities across the verticals. With this strategic partnership in Deep Hole Drilling, we are confident of positioning Aequs to be a significant player in the Oil & Gas sector when the market rebounds.”
Aequs serves customers like Baker Hughes and Halliburton among others in the Oil &Gas segment and, it has consistently proven its capabilities in machining complex parts, used in drilling and oil exploration process. Aequs earned prestigious API Q1 certification for its commitment to manufacturing excellence in December 2014 which specifies rigorous quality management requirements for manufacturers serving the oil & gas industry.
Speaking on the occasion, V R Nayak, Co-founder, Precihole Machine Tools, said,“We are excited to partner with Aequs and exchange our knowledge and expertise and leverage the infrastructure available in Aequs SEZ to set up our new facility. This new relationship will lead to providing better services to our customers and we look forward to a robust growth with new business opportunities.”
Aequs is among India’s fastest growing precision engineering companies specializing in precision machining, sheet metal fabrication, assembly, forging, and special processing for the Aerospace, Automotive, and Oil & Gas industries. The company’s customers include global industry leaders such as Airbus, UTAS, Bosch, Eaton, Baker Hughes and Halliburton. Aequs operates several manufacturing facilities in India, US and Europe. The significant facilities are located in the Aequs SEZ, Belagavi, India’s first integrated precision engineering ecosystem.
Mumbai based Precihole Machine Tools is a leader in providing deep hole drilling solutions. The company manufactures state-of-the-art machine tools and also provides precision machining and component manufacturing services for the engineering Industry.The company has prestigious customers in the Defense, Aerospace, Oil & Gas Exploration, Power, Machinery & Machine Tools and General Engineering industries. Several large and medium companies use Precihole’s products and services. Precihole is an ISO 9001:2008 certified company that values product quality, its customers and employees.