Larsen & Toubro Ltd and US defence aerospace contractor Raytheon Company have signed a memorandum of understanding to collaborate on the medium multi role combat aircraft programme (MMRCA).
The agreement represents a step toward establishing a strong working relationship between the two companies to pursue emerging business opportunities arising out of defence offsets from the MMRCA programme.
"While Raytheon has conducted business in India for many years, we are now looking to develop our relationship and presence here in a more meaningful way over the long term," said Wes Motooka, vice president, international strategy and business development for Raytheon Space and Airborne Systems. "India has a strong pool of talent, so it makes perfect sense for us to combine Raytheon''s world-class technology with the best local expertise as we develop capabilities and solutions to support the nation''s emerging requirements."
"L&T has worked closely with Indian defence establishments in developing and putting into production a range of advanced systems", said M V Kotwal, senior executive vice president, heavy engineering division, L&T.
"L&T has been a major supplier of critical systems to India''s defence and space research sectors for more than three decades. Defence products cover a wide range including rockets and missile launchers, naval systems, radar systems, gun-upgrades, fire-control systems, and tank electronics among others. This new agreement will help us induct state of the art technology, and expand our range of high value offerings in the defence sector."
L&T has signed letters of intent with other Raytheon businesses in the past.
Raytheon Company, with 2006 sales of over $20 billion, is a technology leader specialising in defence, homeland security and other government markets throughout the world. With a history of innovation spanning 85 years, Raytheon provides electronics, mission systems integration and other capabilities in the areas sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services.