Cyient Gains 2% as it Partners with German OEM for Aircraft Design

28 Mar 2024 , 01:03 PM

Cyient’s stock surged by 2% in early trading on March 28 following its partnership announcement with a German original equipment manufacturer (OEM).

At the time of reporting, Cyient was trading at ₹1,993.75, marking a 2.62% increase on the NSE.

The partnership, disclosed in an exchange filing, involves collaboration with Deutsche Aircraft, a German OEM based near Munich, on the detailed design for manufacturing (DFM) of the rear fuselage section for the D328eco regional turboprop aircraft.

Cyient’s Executive Director and CEO, Karthikeyan Natarajan, expressed excitement about the collaboration, emphasizing the company’s dedication to delivering innovative engineering solutions in the aerospace sector.

Natarajan highlighted Cyient’s expertise in aircraft design and development lifecycle, emphasizing its role in advancing aviation technology and contributing to the success of the D328eco project.

Karthikeyan Natarajan, Executive Director and CEO of Cyient, expressed enthusiasm about the collaboration with Deutsche Aircraft to support the development of the D328eco aircraft. He stated, “This partnership highlights Cyient’s dedication to providing innovative engineering solutions in the aerospace sector. Our extensive expertise in the aircraft design and development life cycle will be instrumental in the development of the D328eco. Together, we are eager to drive advancements in aviation technology and contribute to the success of this transformative project.”

Dave Jackson, Chief Executive Officer at Deutsche Aircraft, also shared his excitement about the collaboration, stating, “We are thrilled to be working with Cyient. Their significant experience in the Aerospace & Defence industry played a crucial role in our decision to engage them for the design of the rear fuselage section as part of our D328eco aircraft development program.”

Earlier, on March 20, Infotech HAL Limited, a 50:50 joint venture of Cyient Limited with HAL, initiated the corporate insolvency resolution process before the National Company Law Tribunal, Bangalore Bench.

Additionally, on March 13, Cyient inked a multiyear services agreement with Airbus for Cabin and Cargo Engineering.

Airbus selected Cyient for the development of a portion of its cabin ‘Intelligent Core Management Platform’ (iCMP), aimed at facilitating faster software updates, easy customization, and digital service proliferation in the cabin.

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