LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » Companies News

L&T ties up with Europe's MBDA to develop missile system

A M Naik, the Group Executive Chairman of L&T commented: “We have been trusted partners to DRDO and the Indian Navy, delivering complete weapon systems and platforms, command control and sensor systems, designed, developed and manufactured in India for over three decades.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
L&T ties up with Europe's MBDA to develop missile system
This joint venture will be called ‘L&T MBDA Missile Systems Ltd’, where L&T will own 51% stake and remaining 49% will belong to MBDA. Photo: Pixabay
Written By: ZeeBiz WebTeam
Updated: Mon, Feb 13, 2017
04:18 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Larsen & Toubro wins significant contracts Larsen & Toubro wins significant contracts
Larsen and Toubro Q2 Result First Cut: No positive surprises anywhere; Rs 18 special dividend announced Larsen and Toubro Q2 Result First Cut: No positive surprises anywhere; Rs 18 special dividend announced
'Need reforms in land acquisition, skill building for Aatmanirbhar Bharat' 'Need reforms in land acquisition, skill building for Aatmanirbhar Bharat'
Forbes' World's Best Regarded Companies: These Indian companies are on the coveted list Forbes' World's Best Regarded Companies: These Indian companies are on the coveted list
Stocks in Focus on September 3: Biocon, KNR Construction to JK Tyre; here are the 5 Newsmakers of the Day Stocks in Focus on September 3: Biocon, KNR Construction to JK Tyre; here are the 5 Newsmakers of the Day

Larsen & Toubro (L&T) on Monday announced that it has set up a joint venture (JV) with Europe's MBDA to develop and supply missiles and missile systems – a move to meet potential requirements of Indian armed forces.

A M Naik, the Group Executive Chairman of L&T commented: “We have been trusted partners to DRDO and the Indian Navy, delivering complete weapon systems and platforms, command control and sensor systems, designed, developed and manufactured in India for over three decades.

He added, “Over this period, we have worked closely with Ministry of Defence, and its different arms in jointly developing and delivering cutting-edge defence solutions.”

This joint venture will be called ‘L&T MBDA Missile Systems Ltd’, where L&T will own 51% stake and remaining 49% will belong to MBDA.

The JV will be registered in India and conduct business as an Indian Company, subject to Indian laws. It will also focus on business opportunities in the Missiles and Missile Systems domain and target prospects under the Buy (Indian – IDDM), Buy (Indian) and Buy & Make (Indian) categories of Defence Procurement.

Antoine Bouvier, Chief Executive Officer, MBDA said, "This has seen us involved in the transfer of technology and the production of products and components with the state-owned DPSUs (Defence Public Sector Undertakings) and also with the establishment of very close partnerships with the Indian private sector including large companies and SMEs. The setting up of this JV is a natural progression of our partnership strategy. With L&T, I am convinced that we have found the ideal Indian partner."

Further, the JV will also look to develop and supply fifth generation Anti-Tank Guided Missiles (ATGM5s), missiles for Coastal Batteries and high speed target drones.

This would not be first time where L&T and MBDA have collaborated. Both the companies together have partnered on co-development and production of major subsystems involving complex technologies and sophisticated weapon systems such as MICA missile launchers and airframe segments including control actuation units for Indian MoD orders.

The JV is expected to be incorporated in first half of 2017 after necessary approvals.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Larsen & ToubroMBDALarsen and Toubro - MBDA dealJoint VenturemissilesDefenceInfrastructureEconomyIndian armed forces
RELATED NEWS
Larsen & Toubro wins significant contracts Larsen & Toubro wins significant contracts
Larsen and Toubro Q2 Result First Cut: No positive surprises anywhere; Rs 18 special dividend announced Larsen and Toubro Q2 Result First Cut: No positive surprises anywhere; Rs 18 special dividend announced
'Need reforms in land acquisition, skill building for Aatmanirbhar Bharat' 'Need reforms in land acquisition, skill building for Aatmanirbhar Bharat'
Forbes' World's Best Regarded Companies: These Indian companies are on the coveted list Forbes' World's Best Regarded Companies: These Indian companies are on the coveted list
Stocks in Focus on September 3: Biocon, KNR Construction to JK Tyre; here are the 5 Newsmakers of the Day Stocks in Focus on September 3: Biocon, KNR Construction to JK Tyre; here are the 5 Newsmakers of the Day

LATEST NEWS

Budget 2021 Markets Want More: In chat with Anil Singhvi, expert Anand Tandon reveals expectations

Ind vs Aus Test: India humiliates Australia at Fortress Gabba - Shane Warne tweets 'Long live Test cricket'

PUBG Mobile India: Launch date, trailer, competition from FAUG and other latest updates

India vs Australia Brisbane Test: From PM Modi, Anand Mahindra, Virat Kohli, Sachin Tendulkar, Virender Sehwag, Mohammed Shami, Shikhar Dhawan to Sundar Pichai, a standing ovation for India's wounded warriors

Is schools reopening in India safe yet? Despite guidelines, 11 students test Covid 19 positive on first day in Gujarat

Maruti Suzuki hikes prices of select vehicles by up to Rs 34,000

IBPS RRB PO mains admit card released on ibps.in — Follow these steps to download hall ticket

ITR Refund: Want to check Income Tax Refund status online? Do it this way at incometaxindia.gov.in; easy stepwise method

TikTok, Chingari Short Video rival Moj App surpasses 100 mn downloads on Google Play Store in just 6 months

Home First Finance Company IPO to open on Jan 21; Price band at Rs 517-518/share

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved