Chennai company Trusted Aerospace buys US-based Joined Alloys for Rs 106 cr

CHENNAI: Trusted Aerospace Engineering (TASE Global), based in Chennai, on Tuesday announced the completion of its acquisition of Joined Alloys, a leading US-based firm specialising in aerospace manufacturing, special processes and specialised sheet metal fabrication and product development based out of Phoenix, Arizona for Rs 106 crore.

This acquisition will see the addion of the two factories of Joined Alloys to their manufacturing capacity. It has enabled TASE to expand its areas of work into precision metal assembly. TASE will soon be working on plans to establish these capabilities in India too.

Sankararaman Vaidyanathan, chairman, TASE Global said, “The acquisition is a part of our forward integration process that unlocks synergies in aerospace manufacturing,defence and medical applications, allowing us to pursue more ambitious projects across industries. TASE Global shall be an end-to-end strategic partner to large tier 1 players.”

“Currently both the companies generate revenue of $32 million. Next year both the companies combined will generate revenue of $45 million and in three years down the line TASE will reach $100 million,” he added.

Joseph Yockey, co-founder, Joined Alloys and an aerospace veteran with 4 decades of expertise is appointed as the CEO of TASE Global Americas.

Yockey said, “The new entity will be heavily focused on the North American market yet will also be looking to expand its footprint in the industry across the globe.”

TASE has a factory at Sriperumbudur, where it plans to expand a brownfield facility with a capex of Rs150 cr, expected to be operational during the FY 2025-26. It plans to invest additional capital in the next three years for large component machining, aerostructure and additional capabilities in India.

TASE India facility is building components related to engines. With the augmentation of the Chennai facility, the plan is to build the capability to work on large aero structure components and world-class surface treatment facility which is under build with zero liquid discharge.

TASE Global is a diversified manufacturing and technology group with operations across Europe, Asia and the Americas. It has factories in the US and India, along with offices in Portugal and France. Joined Alloys has served leading clients across regulated industries for over two decades and a major one being the Department of Defense, USA.