Bengaluru: Wipro Givon USA, Wipro Infrastructure Engineering Arm, Buying Washington Manufacturing Facility from Boeing Tect Aerospace Group Holdings supplier for $ 31 million.
Wipro’s offer for manufacturing sites was the only qualified offer submitted, Tect told the US bankruptcy court for the Delaware district, Bloomberg’s legal report said.
The court gave a future deal.
Tect aerospace produces components, spare parts, and complex aerostructurous assemblies.
It produces thousands of assemblies and parts used in flight control, aircraft / interior structure, doors, wings, landing wheels, struts & naacelles, and cockpit.
Email to Wipro Givon asked for confirmation and details about the agreement did not cause a response.
Wipro Infrastructure Engineering has several Aerospace spare parts manufacturing facilities, including Bengaluru.
In 2016, he obtained HR Givon, Israeli producers headquartered from metal spare parts and assemblies for the aerospace industry.
Wipro Givon operates a manufacturing site at Everett, WA, less than a mile away from the main Boeing factory.
Tect said in a statement to Worldofaviatur.com in April that the company suffered disaster financial losses originating from the suspension of production of 737 max (BOEING) (in December 2019) followed by the impact of Covid-19 at the level of industrial production.
“Following 15 months that diligently work with lenders, customers, and suppliers, and after tiring all efforts to restructure outside the court, TECT has concluded that the process of Article 11 that is orderly and organized is the best interest of its creditors,” the company told Worldofaviation.
com.