Boeing partners with Tata for plane parts

Airplane maker creates partnership with India’s Tata to make more than $500 million in aerospace components.

Boeing and Tata have formed a joint venture for $500 million in aerospace components.

Boeing Co., the world’s second-largest commercial jet manufacturer, said Thursday it created a joint venture with Tata Industries Ltd. to make more than $500 million in aerospace components.

The joint venture, which is expected to be formed by June, will start building the components in India and export them to Boeing (BA, Fortune 500) and its international customers.

The companies said they will use Tata (TTM) manufacturing plants and will find new supply sources in India as well.

The first part of the agreement includes possible contracts for components for Boeing’s F/A-18 Super Hornet, CH-47 Chinook and the P-8 Maritime Patrol Aircraft. The deal may also involve a new research and development center.

Tata Industries is a part of the Tata Group, which had revenue of $28.8 billion from 2006 through 2007 and has more than 300,000 workers.

Original article here.