L&T in pact with Europe’s EADS for defence systemsMay 5th, 2009 - 2:47 pm ICT by IANS
Mumbai, May 5 (IANS) Indian engineering giant Larsen and Toubro (L&T) has forged a pact with a subsidiary of Europe’s aerospace and military equipment maker EADS to develop high-end defence electronics out of Pune in Maharashtra.
“The new company will aim at design, development, manufacturing and related services in the fields of electronic warfare, radar, military avionics and mobile systems for military applications,” the two firms said.
The new joint venture, for which the financial details were not disclosed, will not only cater to the Indian market but also address global demand, said A.M. Naik, chairman and managing director of L&T, a $7 billion giant.
“The Indian joint venture will provide the armed forces with locally produced high-tech equipment and assured life-time support.”
EADS, the parent company of leading aircraft manufacturer Airbus Industrie, has been collaborating with Defence Avionics Research Establishment - a laboratory of the state-run Defence Research and Development Organisation.
The European conglomerate’s defence electronics wing provides solutions for the armed forces with a portfolio that ranges from sensors and secure networks for aircraft and missiles, apart from security, service and support systems.
“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,” said Stefan Zoller, chief executive, EADS Defence and Security.
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