Israel Aerospace Industries & Tata will establish a JV Co
Mr. Itzhak Nissan, President and CEO Israel Aerospace Industries Ltd (IAI) and Mr. Ratan N. Tata, Chairman Tata Sons today signed a Memorandum of Understanding to establish a Joint Venture Company in India. The new Company will be set up by Tata Advanced Systems and IAI, and will develop, manufacture and support a wide range of defense and aerospace products, including Missiles, UAVs, Radars, Electronic Warfare (EW) systems and Home Land Security (HLS) systems.
The new JV Company will also perform offset work for IAI and other defense and aerospace programs in India, and it will establish local indigenous capabilities to best support IAI’s Indian customers.
Tata Advanced Systems is a wholly owned subsidiary of Tata Industries focused on providing integrated solutions for Defence and Aerospace.
Mr. Itzhak Nissan said after the signing of the MoU: “The new IAI-TATA JV reflects our commitment to deepen our relations with the Indian industry. TATA is one of the most trusted business groups in India, and is well-known around the world for its excellence and ingenuity. Together, we will be able to offer a wide range of defense products and to boost the capabilities of the local Indian defense industries.”
Mr. Ratan N. Tata said: “We believe the coming together of the Tata and IAI will positively impact the growth of the defence industry in India and complement the efforts of our Defence Labs, Ordnance Factory Board and Defence Public Sector Undertakings.”
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