ESCO Technologies Inc., the parent company of ETS-Lindgren L.P., has been awarded a $16.7 million contract to design, construct, install, and certify two automotive test chamber facilities in India for the National Automotive Testing and R&D Infrastructure Project (NATRIP). This contract, one of the largest test chamber contracts in ETS’s history, is expected to deliver over 20 months beginning in early fiscal 2009. NATRIP, one of the largest and most significant initiatives in the world-wide automotive industry, represents a unique joint arrangement between the Government of India, a number of State Governments within India, and the Indian automotive industry to create a state-of-the-art testing, validation and R&D infrastructure within the country.
The NATRIP project aims to create core global competencies in the automotive industry in India and to facilitate a seamless integration within the industry while positioning India prominently on the global automotive map. With the launch of NATRIP, India is set to provide a major resource to its fast growing automotive industry and to harness India’s major strengths in the realms of engineering, information technology, and electronics by achieving a high degree of convergence. NATRIP’s key objective is to facilitate India’s emergence as one of the strongest hubs for product development within the global automotive landscape.
Vic Richey, ESCO’s Chairman and Chief Executive Officer, commented, “This significant win not only confirms our number one position in the global test market, but also validates how the Asian market is continuing to gain strength in the areas of new product design and development. We are honored to be a key partner with NATRIP on this very exciting project. The NATRIP project win, along with our other recently announced contract awards across our three business segments, have me very enthused about how our future outlook is shaping up.”
The official announcement can be viewed on the investor section of ESCO’s website: http://www.escotechnologies.com/.
