Mahindra, Telephonics sign final agreement to form defence JV
02 Aug 2012
Mahindra & Mahindra Ltd, one of India's leading vehicle manufacturers and Telephonics Corporation, a US-based defence technology firm, today announced the signing of a definitive agreement to form a joint venture for production of advanced airborne surveillance and communication systems for civil and military use in India.
Telephonics Corporation, a subsidiary of Griffon Corporation, is a leading designer, developer, and manufacturer of high-technology integrated information, communication and sensor system solutions to military and commercial markets worldwide.
The Mahindra-Telefonics joint venture will manufacture aircraft intercommunication systems, wireless communication systems, radar, identification friend or foe products, integrated security systems, air traffic management systems, aerospace electronics and threat analysis and management for both defence and civilian use.
In addition, the JV intends to provide systems for air traffic management services, homeland security, and other emerging surveillance requirements.
The company will be called Mahindra-Telephonics Integrated Systems (Mahindra-Telephonics), and will be incorporated in the coming months following an amendment to the prior approval granted by the Foreign Investment Promotion Bureau on 31 March 2012.
The joint venture proposes to set up a plant in Bangalore, which will initially manufacture and service airborne radar systems that are already being supplied to Hindustan Aeronautics Ltd and support airborne maritime surveillance systems for the Indian Navy and Coast Guard.