MBDA-L&T missiles
European group, #MBDA has signed an agreement to set up a joint venture with India’s #Larsen & Toubro for developing sophisticated missile systems to meet the growing potential requirements of the Indian armed forces.
The joint venture will operate from a dedicated work centre, which will include pyrotechnical integration and final checkout facilities.
To begin with, the JV Company will look to develop and supply fifth generation Anti-Tank Guided Missiles (ATGM5s), missiles for Coastal Batteries and high speed target drones.
L&T will own 51% of the joint venture to be established in the first half of this year. MBDA will have 49% of the venture, fully complying with India’s #Foreign Direct Investment (FDI) policy norms.
The JV would focus on business opportunities in the Missiles and Missile Systems domain and target prospects under the Buy (Indian – IDDM), Buy (Indian) and Buy & Make (Indian) categories of Defence Procurement.
The decision to formalise this partnership was made after extensive evaluation and identifying the strong synergy between the two organisations, said MBDA.
L&T and MBDA have collaborated and partnered on co-development and production of major subsystems involving complex technologies and sophisticated weapon systems such as MICA missile launchers and airframe segments including control actuation units for India.
Having developed a strong working relationship and built mutual trust, L&T and MBDA are convinced that it is the right time for the relationship to mature in to a JV, given the conducive policy environment in the defence sector in India.
#Antoine Bouvier, Chief Executive Officer, MBDA, said: “Our business strategy in India has always focused on forming partnerships at the deepest level, not just with the armed forces but also with Indian industry.
“This has seen us involved in the transfer of technology and the production of products and components with the state-owned Defence Public Sector Undertakings and also with the establishment of very close partnerships with the Indian private sector including large companies and Small and Medium Enterprises.
“The setting up of this JV is a natural progression of our partnership strategy. With L&T, I am convinced that we have found the ideal Indian partner,” he said. fii-news.com
