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EADS Defence & Security (DS) of Germany and Indian engineering giant Larsen & Toubro (L&T), today announced to set up a joint venture entity in India to develop and manufacture high-end defence electronics products, mobile systems and solutions catering to the Indian and international market.
The joint venture agreement was signed on May 5 by A.M. Naik, Chairman and Managing Director of L&T and Dr. Stefan Zoller, CEO of EADS Defence & Security.
A press release issued by L&T said the JV company will be 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.
Mr. 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 indigenous 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.
Since 2006, EADS DS has been working in a successful partnership with the Defence Avionics Research Establishment (DARE), a reputed DRDO (Defence Research & Development Organisation) laboratory based in Bangalore. L&T has played a leading role in India’s indigenization effort for Defence equipment and systems. With an impressive track record that includes design, development and manufacture of integrated multi- disciplinary defence systems, L&T has matured into a trusted partner for the Indian Armed forces and DRDO.
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