L&T, MBDA Missile Systems partner to develop missiles in India

[Hindustani78]

http://indianexpress.com/article/in...partner-to-develop-missiles-in-india-4522401/

L&T will own 51 per cent stake in the joint venture named L&T MBDA Missile Systems and the rest 49 with the European partner.

By: PTI | New Delhi | Published:February 13, 2017 3:25 pm

Initially, the JV will look to develop and supply fifth generation anti-tank guided missiles (ATGM5s), missiles for coastal batteries and high speed target drones. (Representational Image)

Engineering and construction major L&T today entered into a joint venture with European defence major MBDA Missile Systems for development of missiles in India. L&T will own 51 per cent stake in the JV named L&T MBDA Missile Systems and the rest 49 with the European partner. Initially, the JV will look to develop and supply fifth generation anti-tank guided missiles (ATGM5s), missiles for coastal batteries and high speed target drones.

Going forward it will focus on opportunities in missile and missile systems domain, and target prospects under different categories of defence procurement which has specific requirements for design developed and manufactured in India, the company said.

Commenting on the partnership, L&T Group Executive Chairman AM Naik said the two companies have been working together for the last six years, specially on the defence offset programs in India.

“We feel the time has come to strengthen the partnership. We will be manufacturing on our shop floor what we design and develop,” he told reporters here.

Naik said L&T is betting big on defence sector considering the government’s focus on Make In India and its decision it to procure missile systems from abroad.

He said L&T is targeting an annual turnover of Rs 10,000 crore from its defence vertical by 2021.

“We think we are on our way to achieve that. Very soon we will also start our guns programme,” Naik said.

MBDA CEO Antoine Bouvier said the company has been in India for many years supplying to the Indian defence forces and the JV is a natural progression.

“It is also a common commitment to respond to the call of India government’s Make in India and indigenisation of defence products,” he added.

The JV expects to roll out the first product in the next two years. Although it hasn’t finalised on where the missile systems will be manufactured, the company has shortlisted two out of L&T’s nine facilities.

If needed, it is open to considering a new facility. MBDA is jointly owned by AIRBUS Group (37.5%), BAE Systems (37.5%) and Leonardo (25%).

 

[P@nThEr]

Engineering and construction major L&T on Monday entered into a joint venture with European defence major MBDA Missile Systems for development of missiles in India.

L&T will own 51 per cent stake in the JV named L&T MBDA Missile Systems and the rest 49 with the European partner.

Initially, the JV will look to develop and supply fifth generation anti-tank guided missiles (ATGM5s), missiles for coastal batteries and high speed target drones.

Going forward it will focus on opportunities in missile and missile systems domain, and target prospects under different categories of defence procurement which has specific requirements for design developed and manufactured in India, the company said.

Commenting on the partnership, L&T Group Executive Chairman AM Naik said the two companies have been working together for the last six years, specially on the defence offset programmes in India.

“We feel the time has come to strengthen the partnership.

We will be manufacturing on our shop floor what we design and develop,” he told reporters here.

Mr. Naik said L&T is betting big on defence sector considering the government’s focus on Make In India and its decision it to procure missile systems from abroad.

He said L&T is targeting an annual turnover of Rs 10,000 crore from its defence vertical by 2021.

“We think we are on our way to achieve that. Very soon we will also start our guns programme,” Mr. Naik said.

MBDA CEO Antoine Bouvier said the company has been in India for many years supplying to the Indian defence forces and the JV is a natural progression.

“It is also a common commitment to respond to the call of India government’s Make in India and indigenisation of defence products,” he added.

The JV expects to roll out the first product in the next two years. Although it hasn’t finalised on where the missile systems will be manufactured, the company has shortlisted two out of L&T’s nine facilities.

If needed, it is open to considering a new facility.

MBDA is jointly owned by AIRBUS Group (37.5%), BAE Systems (37.5%) and Leonardo (25%).

http://www.thehindu.com/business/LT...develop-missiles-in-India/article17296476.ece

 

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L&T, MBDA Missile Systems partner to develop missiles in India
L&T will own 51 per cent stake in the joint venture named L&T MBDA Missile Systems and the rest 49 with the European partner.
BY: PTI | NEW DELHI |
Published On:February 13, 2017 3:25 Pm

Engineering and construction major L&T today entered into a joint venture with European defence major MBDA Missile Systems for development of missiles in India. L&T will own 51 per cent stake in the JV named L&T MBDA Missile Systems and the rest 49 with the European partner. Initially, the JV will look to develop and supply fifth generation anti-tank guided missiles (ATGM5s), missiles for coastal batteries and high speed target drones.
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Going forward it will focus on opportunities in missile and missile systems domain, and target prospects under different categories of defence procurement which has specific requirements for design developed and manufactured in India, the company said.
Commenting on the partnership, L&T Group Executive Chairman AM Naik said the two companies have been working together for the last six years, specially on the defence offset programs in India.
“We feel the time has come to strengthen the partnership. We will be manufacturing on our shop floor what we design and develop,” he told reporters here.
Naik said L&T is betting big on defence sector considering the government’s focus on Make In India and its decision it to procure missile systems from abroad.
He said L&T is targeting an annual turnover of Rs 10,000 crore from its defence vertical by 2021.
“We think we are on our way to achieve that. Very soon we will also start our guns programme,” Naik said.
MBDA CEO Antoine Bouvier said the company has been in India for many years supplying to the Indian defence forces and the JV is a natural progression.
“It is also a common commitment to respond to the call of India government’s Make in India and indigenisation of defence products,” he added.
The JV expects to roll out the first product in the next two years. Although it hasn’t finalised on where the missile systems will be manufactured, the company has shortlisted two out of L&T’s nine facilities.
If needed, it is open to considering a new facility. MBDA is jointly owned by AIRBUS Group (37.5%), BAE Systems (37.5%) and Leonardo (25%).L&T, MBDA Missile Systems partner to develop missiles in India

 

[Hindustani78]

Sputnik news

After Lockheed Martin and Raython of US, MBDA has become second major missile manufacturers which has decided to set up Indian joint venture to cater demand of anti-tank guided missile for Indian armed forces. In September 2016, Lockheed Martin and Raytheon Company had entered into a deal with India's Tata Power for the co-development and production of Javelin anti-armor missile system.

L&T will own 51% of the Company and MBDA, 49%, fully complying with India's Foreign Direct Investment (FDI) policy norms. L&T MBDA Missile Systems Ltd is expected to be incorporated in the first half of 2017 after necessary approvals. In the beginning, company is expected to receive contract to develop and supply fifth generation Anti-Tank Guided Missiles (ATGM5s), missiles for Coastal Batteries and high speed target drones.

"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. Over this period, we have worked closely with Ministry of Defense, and its different arms in jointly developing and delivering cutting-edge defense solutions," A M Naik, the Group Executive Chairman of L&T said. MBDA is jointly held by AIRBUS Group (37.5%), BAE SYSTEMS (37.5%), and LEONARDO (25%).

India has recently bought few thousands anti-tank guided missiles and critical tank components to augment emergency weapons for Indian military. India is also expected to receive medium range anti-tank guide missile Spike from Israel. In May last year, India had finalized price negotiations for 275 launchers and 5,500 Spike missiles in completed and kit form. Meanwhile, Rafael Advanced Defense Systems has agreed to transfer technology to India to build another 1,500 systems and around 30,000 additional missiles. In future, India's Ministry of Defense may also contract with Indian Missile ventures for the acquisition of few thousands missile system to equip the Indian Army's 359-odd infantry battalions.