Engineering and construction major Larsen & Toubro Ltd (L&T) has formed a joint venture with defence electronics major EADS Defence & Security (EADS DS) for development and manufacture of high-end defence electronics products, mobile systems and solutions catering to Indian and international markets.
EADS ED is the electronics and systems solutions division of global defence and aviation major EADS.
The joint venture company, to be based in Talegaon near Pune, will aim at design, development and manufacture of related services in the fields of electronic warfare, radar, military avionics and mobile systems (such as modular bridges) for military applications, an EADS release said.
The formation of the joint venture is subject to approval by the Indian government, the release added.
''For over two decades, L&T has been a major supplier of critical systems to India's defence forces. These include a wide range of products like weapon launchers, naval systems, radar systems, etc. We welcome the formation of this joint venture that will create opportunities for development of state-of-the-art defence electronic products and systems for the Indian defence forces and for the rest of the world,'' A M Naik, chairman and managing director of L&T said
"EADS DS is a high tech company driving the development of integrated system solutions for armed forces and civil security worldwide. We are proud of joining forces with one of India's biggest technology companies. Our joint venture is proof of our commitment to India. EADS would like to move beyond just providing high technology sales to India by creating an Indian Industrial base with the development of a long term partnership, including the transfer of technology wherever necessary. The cooperation with L&T is an important milestone on the way to increasing our industrial footprint in India. The Indian defence and security market is growing fast and we want to grow with it," said Stefan Zoller, CEO of EADS Defence & Security.
The joint venture company will customise development and manufacture of solutions for military requirements to Indian needs as well as cater to the world market. The Indian JV company will provide the armed forces with locally produced high tech equipment and assured life-time support.
EADS DS has been partnering Defence Avionics Research Establishment (DARE), a reputed laboratory of the Defence Research & Development Organisation (DRDO) based in Bangalore, since 2006.
L&T has been playing a leading role in India's indigenisation effort for defence equipment and systems. With an impressive track record that includes design, development and manufacture of integrated multi- disciplinary defence systems, L&T has matured into a trusted partner for the Indian armed forces and DRDO.
EADS Defence & Security is an integrated defence electronics systems solutions provider for armed forces and civil security worldwide. Its portfolio ranges from sensors and secure networks through missiles to aircraft and UAVs as well as global security, service and support solutions. EADS DS, with around 22,000 employees, reported revenues of € 5.7 billion in 2008.
EADS is a global leader in aerospace, defence and related services. In 2008, EADS generated revenues of € 43.2 billion and employed a workforce of about 118,000.
Larsen & Toubro Limited (L&T) is a $7 billion engineering, technology and construction organisation, and one of the largest companies in India's private sector. It has interests in manufacturing, services and information technology.