Bangalore: After its tie-up with Boeing (See: Boeing signs MoU with L&T for defence production ) engineering major Larsen & Toubro Ltd (L&T) has announced that it is now in talks with the US company's European rival that own Airbus for joint exploration of business opportunities in defence and aerospace.
According to MV Kotwal senior executive vice president, L&T, and Daniel Baubil, executive vice president and head of global industrial development of EADS, this morning signed a MoU to establisi1 a long-term agreement to work together in the Indian and global aerospace and defence markets.
The MoU was signed in Bangalore against the back drop of the ongoing Aero India 2007 show.
After signing the MoU, Kotwal said, "the opening up and rapid growth of the defence market represents a major opportunity. This can lead to new forms of cooperation involving innovative technologies. As a company that has been supplying critical equipment and systems to the strategic sectors of defence and aerospace for over four decades, we welcome this opportunity to induct state of the art technology, and expand our range of high value offering".
The two companies will have working teams to build a joint business model and appropriate common strategies "on several key segments of the aerospace and defence market".