The Hindu Business Line : Tata group co ties up with Israel Aerospace

Tata Advanced Systems, a wholly owned subsidiary of Tata Industries, and Israel Aerospace Industries (IAI) Ltd, have signed a Memorandum of Understandingto set up a joint venture company here.

A statement issued after the signing ceremony on Sunday said that the new company would develop, manufacture and support a wide range of defence and aerospace products, including missiles, unmanned air vehicles, radars, electronic warfare systems and home land security systems.

Future plans

The MoU was signed by the Chairman, Tata Sons, Mr Ratan Tata, and the President and Chief Executive Officer, IAI, Mr Itzhak Nissan. The joint venture would also perform offset work for IAI, and other defence and aerospace programmes in India. It will establish indigenous capabilities to support IAI’s Indian customers.

“The venture reflects our commitment to deepen relations with the Indian industry,” said Mr Nissan, after signing the MoU.

“We believe the coming together of Tata and IAI will positively impact the growth of the defence industry and complement the efforts of Ordnance Factory Board and defence public sector undertakings and labs,” Mr Tata added.

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Tata group co ties up with Israel Aerospace