The Hindu Business Line : SEC Industries signs pact with Israel Aerospace Industries

Hyderabad, May 23 SEC Industries has signed a memorandum of understanding (MoU) with Israel Aerospace Industries (IAI) for manufacturing key components for the defence sector.

The MoU takes advantage of the Union Ministry of Defence’s ‘Offset Policy’, which stipulates a minimum of 30 per cent of contract value of a project bagged by a global major can be manufactured in the country.

Accordingly, the $3.5-billion IAI, which is among the top global contenders for a significant pie in India’s defence production contracts, would use the MoU to meet the requirements. It has been forging relationships with large as well as small and medium enterprises (SMEs) recently.

SEC Industries, the Hyderabad-based mid-sized company, has expertise to manufacture components and systems for the country’s aerospace needs, especially the missiles. It has been a major supplier for the BrahMos, Agni, Prithvi and Ballistic Missile Defence systems.

Under the MoU, SEC Industries will meet the contractual job demands from IAI for the defence sector as well as execute outsourcing jobs for the latter’s global clientele. “Through the MoU, we can also get an exposure to international business”, Mr D. Vidyasagar, Managing Director of the company told Business Line.

SEC Industries recently bagged the best technology absorption award from the Defence Research and Development Organisation (DRDO) on the Technology Day (May 11) for its contribution to the country’s aerospace needs.

The company is ready to upgrade its facilities and increase its staff strength . It has recently strengthened its front-end engineering services to provide design and analysis and product development for customers, especially foreign companies, he said.

SEC Industries has been involved with the Integrated Guided Missile Development Programme (IGMDP), since its inception in 1982-83. It is also participating in the Hypersonic Technology Demonstration Vehicle project of the DRDO, Mr Vidyasagar said.

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