Ramco Systems shares are higher by over 7% in early trade on December 6, after the company announced a partnership with Hanjin Group of Korea for the aviation business, offering maintenance software in collaboration with Hanjin Info Systems for Korea-based aviation companies.
The partnership provides Korean aviation companies with the synergy of HIST’s advisory as well as Ramco’s aviation 6.0 software, to streamline processes, optimize supply chain, and enhance engine maintenance. For the first time, Korean Air, the national carrier of South Korea will be deploying Ramco's aviation software.
"We will create new innovations in the IT market by combining Ramco Systems’ MRO solution expertise and Hanjin Information Systems & Telecommunication’s technological capabilities in the aviation and logistics," Bong-Sup Byun, CEO, Hanjin Info Systems said. Manoj Kumar Singh, Chief Customer Officer – Aviation, Aerospace & Defense at Ramco Systems said the partnership will open doors to ground-breaking innovation.
The multi-million dollar deal with Korean Air, signed earlier this year, is one of the largest ever for Ramco Systems. "This strategic engagement will accelerate tech transformation of Korean Air's new engine maintenance facility, which would be Asia's largest engine MRO facility," the company said. The Korean Air order is to the north of $10 million, Ramco had said previously, without specifying the exact size.
"...when someone like Korean Air chooses us, it gives us the extra credibility in the market. So other people who are really looking at it will absolutely look at our product because it has been chosen by someone like Korean Air. So that has made a very big difference," Ramco had said, on the Korean Air deal.
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