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with the Indian carrier. In addition to meeting the needs of Air India, the facility will also have the
capacity to take care of the needs of regional airlines.
R&D Centre
Boeing is also ramping up its capabilities in the R&D Centre in Bangalore. At present about 30
professionals are working in three major areas — materials, computational fluid dynamics and network
systems. “We will add good numbers in the next one year”, he said.
The model is partnership work. The Centre is working with the IITs, National Aerospace Laboratory and
Indian Institute of Sciences at Bangalore, on some frontline projects.
One interesting initiative is the work on RFID, which has several applications in the civilian aircraft
industry, Mr. Keskar said.
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GE to open validation lab in Bangalore
The American conglomerate GE announced launch of a state-of-the-art validation laboratory in
Bangalore which will support repair and calibration of Kaye range of products designed to meet
industrial requirements.
The lab which has a capability to calibrate temperatures to an accuracy of 0.005° C will meet vital
requirements of pharmaceutical and life science industries, a company statement said here. GE's
measurement and control business is a leading innovator in sensor-based measurement, inspection,
asset condition monitoring, controls and radiation measurement solutions to a wide range of industries
including oil and gas, power generation, aerospace, transportation and healthcare.
"The new lab supports GE's 'In Country, for Country' strategy to build on capabilities and resources
within India," GE regional general manager for measurement and control division Ashish Bhandari said.
The lab will also help reduce turnaround time for customers from three months to just one week, he
said.
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Ford lays foundation for $1 billion India factory
Ford Motor Co. says it laid the cornerstone for a new billion dollar factory in India. The plant will have
the capacity to manufacture 240,000 cars and 270,000 engines a year when it's complete in 2014. The
factory will produce cars for domestic consumers and for export.
Ford's move to expand its India business comes amid slowing car sales in India. So far during the fiscal
year ending in March, car sales have crept up 0.3 percent, against the previous year's 29.5 percent
surge.
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Warburg Pincus & IFC invest $50 million in AU Financiers
AU Financiers (India) Pvt. Ltd announced on Monday that U.S.-based private equity firm Warburg Pincus
and World Bank affiliate International Finance Corp have invested $50 million in the non-banking
finance company.
The investment will be primarily used to fund future growth of the Jaipur-based company and will also
provide some liquidity to early investors, according to a press statement released by AU Financiers.