labels: Securities and Exchange Commission, News reports, Israel Aerospace Industries
SEC Industries, IAI sign MoU for local and global defence manufacturing programmes news
24 May 2008

Hyderabad: SEC Industries, a Hyderabad-based aerospace components manufacturer and supplier of India's defence and space programmes, has signed a memorandum of understanding (MoU) with Israel Aerospace Industries (IAI) for the manufacture of key components for the defence sector.

The MoU aims at meeting the needs of the ministry of defence's offset policy, which stipulates a minimum of 30 per cent of contract value of a project above Rs300 crore to be manufactured  or provided  for locally.

IAI, which is one of the top global defence suppliers, has been forging relationships with large as well as small and medium enterprises (SMEs) in the country recently.

SEC Industries, has been a supplier of components and systems for the country's aerospace and defence sector, especially missiles. It has been a major supplier for the BrahMos, Agni, Prithvi and ballistic missile defence systems.

Under the MoU, SEC Industries will not only meet contractual job demands from IAI for the defence sector but also execute outsourcing jobs for the latter's global client base.

SEC Industries was recently given the best technology absorption award from the Defence Research and Development Organisation (DRDO) on Technology Day (11 May) for its contribution to the country's aerospace sector.

SEC Industries has been involved with the Integrated Guided Missile Development Programme (IGMDP), since its inception in 1982-83. It is also participating in the Hypersonic Technology Demonstration Vehicle project of the DRDO, Vidyasagar said.


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SEC Industries, IAI sign MoU for local and global defence manufacturing programmes