Date:14/05/2008 URL: http://www.thehindu.com/2008/05/14/stories/2008051452121300.htm

National

Tata firm signs pact with Israel company

Special Correspondent

MUMBAI: Tata group company Tata Advanced Systems (TASL) and Isreal Aerospace Industries (IAI), have signed a framework agreement for cooperation in developing a wide range of weapons and defence equipment in India, including missiles, unmanned aerial vehicles, radars and electronic warfare systems, a release here said.

Tata Sons’ Chairman Ratan Tata and IAI’s president and CEO Itzhak Nissan signed the agreement that aims at forming a joint venture company in India for developing, manufacturing, marketing and supporting defence products.

Signing of MoU

The agreement follows a memorandum of understanding the two firms signed during the Defexpo show in New Delhi in February. .

The IAI, the largest defence company in Israel, is already an important supplier to the Indian armed forces.

A Tata spokesman said the new company aimed at meeting the needs of the Indian defence labs as well.