EXCLUSIVE!! MAS GMR Aero Technic up for sale?
Neelam Mathews Aug 18, 2012 Who says doing business in India is a breeze? However, the penchant to hurt our own industry is fast becoming a habit. Take MAS GMR Aero Technic launched early this year with an investment of Rs 350 crore, now believed to be looking at exiting the business, according to Aerospace Diary's global sources. While a spokesman for the company has denied this, saying: “We’re a startup company in our first year- naturally there will be hiccups….” He also refused to give us a projection of expected targeted business for the next few years adding: "That's a strategic decision for the top level management (to address?)" Another denial from GMR has just come in. "GMR Group is an established and reputed business entity, acknowledged across the globe. We would like to strongly deny the comment put in as a query. There is no such move of MAS GMR exiting the MRO business.” Whether GMR holds back its precious asset or not, the ...