“Mahindra to become a leading defence systems integrator” [May 2012]
By admin May 26, 2012 8:45 am IST
Mahindra & Mahindra signed a Memorandum of Understanding (MoU) with Rafael Advanced Defense Systems Ltd. and to form of a joint venture company in India. The JV will develop and manufacture products such as anti-torpedo defence systems, electronic warfare systems, advanced armouring solutions and remotely operated weapon stations for futuristic infantry combat vehicles (FICV). Rafael Advanced Defense Systems is a manufacturer of high tech defence systems for air, land, sea and space applications.
Mahindra & Mahindra announced that the company has approached the Foreign Investment Promotion Board (FIPB) for the creation of a 74:26 company.
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