Dynamatic Technologies signs MOU with Spirit Aerosystems (Europe)

Dynamatic Technologies Ltd has informed that the Company has signed an MOU with Spirit Aerosystems (Europe) Ltd, the European division of Spirit AeroSystems, Inc. the world's largest supplier of commercial airplane assemblies and components on December 03, 2007 at Bangalore.

The MOU between the Company and Spirit Europe covers a significant complex metallic precision assembly for Airbus Single Aisle (A320 family) aircraft. The assembly by the Company marks a major step towards further development of the parties' strategic partnership.

Udayant Malboutra, Chief Executive Officer and Managing Director of the Company commented "we are delighted to have started collaboration with Spirit for production of exacting aerostructures for Airbus. This, on top of our prior learning's from Hindustan Aeronautics Ltd (HAL) is a major win for the Indian Aerospace industry".

Manufacturing is due to commence in the third quarter of 2008 at the Company's facility at Peenya, Bangalore with full production rates being targeted for 2010. The Company will become the single source strategic partner for these components.