EADS Defence & Security and Larsen & Toubro join forces in India to forge a long term partnership
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The proposed Joint Venture is to become the leading Indian Electronics House for defence and security
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Development and manufacture of high-end defence electronics products, mobile systems and solutions catering to Indian and international market
Mumbai, May 5, 2009: 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 Indias 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.
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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 Indias 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.
About EADS Defence & Security
Defence Electronics is an integrated activity of EADS Defence & Security (DS). DS is a systems solutions provider for armed forces and civil security worldwide. Its portfolio ranges from sensors and secure networks through missiles to aircraft and UAVs as well as global security, service and support solutions. In 2008, EADS DS with around 22,000 employees achieved revenues of 5.7 billion. EADS is a global leader in aerospace, defence and related services. In 2008, EADS generated revenues of 43.2 billion and employed a workforce of about 118,000.
About Larsen & Toubro
Larsen & Toubro Limited (L&T) is a USD 7 billion technology-driven engineering, technology and construction organisation, and one of the largest companies in Indias private sector. It has interests in manufacturing, services and information Technology. A strong, customer focussed approach and the constant quest for top-class quality have enabled the company to achieve and sustain leadership in its major lines of business for over seven decades.
