Assystem and AXISCADES Engineering Technologies Ltd. signed a Memorandum of Understanding to form a joint venture company in India.
This JV Company will undertake engineering services for the energy sector business for Indian and global utilities and contractors; mutually agreed in accordance with the provisions of the final agreement.
This JV combines the strength of AXISCADES and Assystem Energy & Infrastructure to address the needs of the industry’s leading Energy Majors across the globe, such as the design of new power stations. It will create competitive solutions, meeting global outsourcing requirements. It is also aimed at addressing the nuclear programs in India. This JV Company is modeled around the successful partnership formed by AXISCADES and Assystem, addressing some of Airbus Group’s requirements.
The JV plans to employ over 500 talented engineers in the next three years.
“The energy industry worldwide has to improve its competitiveness to meet sustainable development required globally. I am convinced that the combined know-how of Assystem Energy & Infrastructure as an energy engineering specialist, teamed with the capabilities and competitiveness of AXISCADES, a leading Indian technology solutions company, can offer the energy sector a unique value proposition required” said Stéphane Aubarbier, CEO, Assystem Energy & Infrastructure.
Commenting on the occasion, Sudhakar Gande, Vice Chairman, AXISCADES said “The growing importance of the energy sector requires that we bring superior global resources and a broad spectrum of cutting edge technologies and processes in order to better ensure our customers’ success. The formation of this joint venture ensures value addition and provides critical mass to accelerate meeting those objectives.”
The JV could also involve service offerings to other sectors and regions, thus offering a competitive boost for both companies in the global marketplace, by leveraging each other’s core strengths.
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Assystem is an international group specialised in engineering and is listed on Euronext Paris. As a key participant in the industry for 50 years, Assystem supports its clients in developing their products and managing their capital expenditure throughout the product life cycle. Assystem employs more than 12,500 people worldwide and generated €956 million in revenue in 2016.
More information: www.assystem.com – Follow Assystem on Twitter: @Assystem
AXISCADES Engineering Technology Ltd.
AXISCADES is a leading Product Engineering and High-Technology solutions company catering to the futuristic needs of Aerospace & Defense, Heavy Engineering, Automotive, Industrial Product and Medical Device sectors. Their proven technology products and services, coupled with industry best practices enable global OEMs create innovative, sustainable, safer and smarter products.
The company has 1800+ innovators worldwide and generated $ 77 million in revenues in FY17. AXISCADES offers technology solutions in Product Engineering, Software and Simulation, Embedded Systems, Mil-Aero, System Integration, Testing and Lifecycle Support areas. Headquartered in Bangalore, AXISCADES has 12 engineering centers worldwide including North America, Europe and Asia. With an unparalleled domain expertise, a passion to challenge the status quo, they are recognized as a preferred technology partner who can provide value across product lifecycle cycle from concept design to manufacturing support and after-market solutions.
More information: www.axiscades.com – Follow AXISCADES on Twitter: @AXISCADES