Aerospace Daily & Defense Report
May 4, 2010
NEW DELHI — Indian engineering and manufacturing company Quality Engineering & Software Technologies (Quest Global) is looking to raise $50 million as part of its ambitious plans to grow at 40% annually for the next five years.
As the company looks at strengthening its supply base, it will consolidate its position in Europe through mergers and acquisitions in the fields of aerospace and defense, power generation and engines, CEO Ajit Prabhu says.
“We are a company that survived the recession through cash and courage. As a global company, we adopt a local-global approach. The acquisition gives us capability and an opportunity to have close access to our customers,” Prabhu adds.
In a major move, the company is consolidating its global operations and setting up a key engineering center of excellence at its new global headquarters in Singapore. “A large number of our customers are based in Singapore and we want to be close to them,” Prabhu says. The company is placing 100 engineers in Singapore to service
its customers who have a rising presence there. It will look initially at testing solutions, manufacturing and engineering.
The move is a significant step in its vision to become a $500 million organization by 2015. By next year, it expects to earn more than $120 million in revenues.
Quest was recently named as the top Engineering Service Outsourcing (ESO) vendor by the largest annual survey — the Black Book of Outsourcing. It was ranked on 20 key performance indicators, including trust, breadth of offerings, client types, delivery excellence, vendor viability and support of customers.
- Neelam Mathews