Kineco Private Limited, a Goa-based company, and Kaman Aerospace Group Inc., a subsidiary of Kaman Corporation, USA, on Tuesday announced inauguration of their joint venture in Goa.

The joint venture, Kineco Kaman Composites – India Private Limited, will manufacture advanced composite structures for aerospace, defence, medical imaging and other industries using the latest carbon fibre material and autoclave curing technology.

This include composite structural parts for modern aircraft and helicopters, and parts for spacecraft, Shekhar Sardessai, Chairman and Managing Director of Kineco, and Richard Thorley, Director -Strategy and Development, Kaman Aerospace Group, said in a press release issued here.

The joint venture would initially employ 50 people. Based on the anticipated growth plans, it would employ over 500 people in the next five years, Mr. Sardesai said.