Mahindra Defence, Telephonics Corp JV to manufacture radars, electronics
17 Nov 2011
New Delhi: Mahindra Defence Systems (MDS) and the US-based Telephonics Corporation, on Thursday announced a joint-venture for the manufacture of radars and surveillance and communication systems for the Indian armed forces.
The JV intends to provide systems for air traffic management services, homeland security and other emerging surveillance requirements of the defence forces as also for the civilian applications, an MDS spokesperson said here.
Under the agreement, a plant will be established in India to manufacture and service airborne radar systems that have been supplied to Hindustan Aeronautics Ltd (HAL) and to support airborne maritime surveillance systems for the Indian Navy and Coast Guard.
The JV will license technology from Telephonics Corporation for use on a wide-range of products that have both defence and civil applications.
Meanwhile, approval has been sought from the Foreign Investment Promotion Board for establishing the JV as per the rules of governing foreign direct investment.
Vice chairman and managing director of Mahindra Group, Anand Mahindra, said on the occasion that the JV will strive to develop niche technologies in the defence sector.
''We are delighted to partner with Telephonics and are committed to supporting the Indian MoD's requirement of having a capable indigenous defence private sector. We will continue to strive to develop niche technologies that support the nation, such as our JV with Telephonics,'' he said.
Noting that Indian defence market was an important part of their expansion plans, the CEO of Telephonics Corporation, Joseph Battaglia, said, ''The defence market in India is an important part of our international expansion plans and Mahindra is the right company for us to grow with in India.''
