Indian company, Dynamatic Technologies, to build doors for Airbus’ A220 planes

An Indian company – Dynamatic Technologies – has signed an agreement with Airbus to make all door variants for the planemaker’s  A220 planes, the companies confirmed in a press conference on Thursday.

This is by far the French planemaker’s largest contract for doors, Airbus India President Remi Maillard said. Dynamatic Technologies’ Chief Executive Officer Udayant Malhoutra that the company will deliver the first doors to Airbus early next year.

The announcement was made in the presence of Civil Aviation Minister Jyotiraditya Scindia.

Dynamatic Technologies shares surged 11.57 per cent to scale a one-year high of Rs 7,790.80 against their previous close of Rs 6,982.95. The stock saw heavy trading volumes today. Turnover on the counter came at Rs 4.78 crore, commanding a market capitalisation (m-cap) of Rs 5,137.12 crore.

Dynamatic’s order is the second in India, the earlier contract was awarded to Tata Advanced Systems to build bulk and cargo doors for A320 planes.

The company builds products for automotive, aeronautic, hydraulic and security applications. Their facilities are located in Bengaluru, Chennai, Coimbatore and Nasik, as well as in the UK and Germany. They have three design laboratories in India and Europe, and numerous patents to its name.

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