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QuEST Expands Into Aerospace Manufacturing

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April 3, 2006—QuEST, a Bangladore-based provider of engineering services, today announced the expansion into aerospace manufacturing through a fully owned subsidiary-QuEST Machining and Manufacturing.

QuEST Machining and Manufacturing will provide precision machined components to aerospace companies.

QuEST Machining and Manufacturing signed a 10- year strategic agreement with Magellan Aerospace, one of the world's largest aerospace suppliers. Magellan Aerospace is QuEST's first major aerospace customer for manufacturing.

Under the agreement, QuEST Machining and Manufacturing will manufacture for Magellan Aerospace components such as landing gear parts for the Boeing 747, 777 and 787 programs.

"With this expanded offering, QuEST is pioneering the concept-to-realization of products, as well as reinforcing our commitment of a partnering approach towards our customers," says Aravind Melligeri, president and CEO of QuEST Machining and Manufacturing.

The USD 25 million investment will go towards setting up the infrastructure and machinery over the next three years. The start-up facility size is 20,000 sq. ft., with a capacity of 25,000 machining hours using state-of-the-art 3/4/5 axis machining centres. This facility will also include full-fledged quality inspection equipment.

"At Magellan, we are pleased to select QuEST Machining and Manufacturing as our strategic supplier in India for our manufacturing requirements. QuEST Machining and Manufacturing is committed to invest in the technology, manufacturing capabilities, and capacities required to support aerospace market needs," says Konrad Hahnelt, vice president, Strategic Global Sourcing, Magellan Aerospace. "QuEST's comprehensive concept-to-realization solutions will complement Magellan's experience and knowledge of aerospace manufacturing and processes and will generate value for Magellan and its global customers."