12:00 AM, May 5, 2009
3740
EADS Defence & Security (DS) and Indian engineering giant Larsen & Toubro (L&T), Mumbai, will join forces in the fields of defence technology. During a signing ceremony in Mumbai, EADS DS and L&T announced the planned formation of a joint venture company for defence electronics in India, based in Talegaon near Pune. The new company will aim at design, development, manufacturing and related services in the fields of electronic warfare, radar, military avionics and mobile systems (such as modular bridges) for military applications. The formation of the joint venture is subject to approval by the Indian Government. A. M. Naik, Chairman and Managing Director of L&T said: “For over two decades, L&T has been a major supplier of critical systems to India’s defence forces. These include a wide range of products like weapon launchers, naval systems, radar systems, etc. We welcome the formation of this joint venture that will create opportunities for development of state-of-the-art defence electronic products and systems for the Indian defence forces and for the rest of the world”. Dr. Stefan Zoller, CEO of EADS Defence & Security, stated: "EADS DS is a high tech company driving the development of integrated system solutions for armed forces and civil security worldwide. We are proud of joining forces with one of India's biggest technology companies. Our joint venture is proof of our commitment to India. EADS would like to move beyond just providing high technology sales to India by creating an Indian Industrial base with the development of a long term partnership including the transfer of technology wherever necessary. The cooperation with L&T is an important milestone on the way to increase our industrial footprint in India. The Indian defence and security market is growing fast and we want to grow with it". The joint venture company will develop and manufacture indigenious solutions for military requirements of Indian customers as well as the world market. Thus, the Indian JV company will provide the armed forces with locally produced high tech equipment and assured life-time support.
Also Read
Features
More..