QuEST plans to raise $ 20 million overseas

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The company currently derives less than 10% of its revenues from manufacturing.

The subsidiary, QuEST Machining and Manufacturing, recently signed a 10-year deal with Canada-based Magellan Aerospace Corporation to supply landing gear parts for Boeing's 747, 777 and 787 programmes. The order is worth USD 5 million.

QuEST, which counts General Electric, Rolls Royce and Smiths Aerospace among its clientele, has doubled its revenues in past two years to USD 40 million.

It expects to double it in next two years. GE, the company's largest client, accounts for 26% of revenues.

QuEST is currently scouting for potential buy-outs overseas in the embedded systems and product lifecycle management solutions space.

'We are looking to acquire firms in size of around USD 10 million and have short-listed a couple of them.'

Taken from Business Line

thehindubusinessline.in