Belgaum, Feb 19 (IANS): A Belgaum-based private aircraft component-maker Thursday said it has tied-up with Germany-based Premium Aerotec, a subsidiary of airplane-maker Airbus, over a course of seven years to make components worth nearly Rs.310 crore.

The aerospace division of the Belgaum firm Aequs has signed up with the German firm which is also a tier-one supplier to Airbus to make components for the A320, A330 and A380 aircraft variants.

"Over the next seven years, we will supply approximately Rs.310 crore worth of precision-machined parts for the Airbus A320, A330, A380 programmes," the Indian component maker's president of aerospace division Walt Sirmans said.

The firm has recently delivered the first series of components and will carry out the order in phases.

"After receiving (the) first article inspection approval in December 2014, we began delivering the first production parts just one month later," he said.

About the partnership with an Indian company, an Airbus official said it will provide the firm "additional supply chain flexibility and economic advantages".

The Airbus subsidiary has five production sites in Germany and Romania making advanced components from aluminium, titanium and carbon fibre composites.

It also supplies relevant parts to Boeing, Eurofighter and another military transport aircraft. In 2013, the company's revenues stood at Euro 1.6 billion.

The Belgaum firm is also involved in other projects with Airbus as supplier.