US-based Lockheed Martin Corporation and Tata Advanced Systems today announced a JV to manufacture aero-structures for Lockheed.
The venture, Tata Lockheed Martin Aerostructures will be export-oriented, the companies said. The products manufactured through the JV will be integrated by Lockheed Martin for its global C-130 aircraft customers.
''We are very proud of our association with Lockheed Martin and believe it will raise the level of capability of the aerospace industry in India as also complement the efforts of our defence public sector undertakings,'' said Ratan Tata, chairman, Tata Sons.
Lockheed Martin's state-of-the-art C-130J military transport aircraft is used by the Indian Air Force (IAF) and a number of nations including the US, Australia, Canada, Denmark, Italy, Norway and the UK.
The US aerospace and defence giant had delivered a first batch of six C-130J aircrafts to the IAF as part of the $1.2-billion US foreign military sale agreement with the US signed in late 2008. (See: Lockheed Martin delivers C-130 aircraft to IAF)
''This partnership is established as a strategic element of our global supply chain and solidifies our presence in India,'' said Ralph D Heath, Lockheed Martin executive vice president, aeronautics.
Lockheed Martin is a global security company that employs about 132,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
The corporation's 2010 sales from continuing operations were $45.8 billion.
Tata Advanced Systems is a wholly owned subsidiary of Tata Sons that provides integrated solutions for aerospace, defence, homeland security and disaster management.