Eurocopter ties up with Indian business group

Eurocopter, a unit of European aerospace giant EADS, on Tuesday announced a collaboration with an Indian business group to jointly build helicopter spares, the companies said. Mahindra Group and Eurocopter India, the local arm of the helicopter unit of the European Aeronautic Defence & Space group (EADS), said in a joint statement they had signed a memorandum of understanding for a new partnership. "The partnership will be focused on manufacturing of sub-assemblies, engineering and customisation of civil helicopters and the joint development of specific market segments," the joint statement said. The "details of the scope and structure of the partnership will be decided in the coming months," it added. Eurocopter last year said it hoped to pick up 50 percent of India's market share with the sale of 25 helicopters each year until 2015, with projected sales of more than 100 million euros ($138 million). Eurocopter is also back in the race to sell 197 helicopters to the Indian military. In 2007 India scrapped Eurocopter's successful bid for the contract worth $600 million following allegations it violated an Indian ban on using middlemen in defence deals. The allegations were denied and Eurocopter re-bid for the contract after India floated fresh global tenders in 2008.