29 August 2012

Bharat Electronics and Thales to form JV in India for Civilian and select defence radars

Bangalore - 29 August 2012 – Following the signing of the Memorandum of Understanding on November 17, 2009, Navratna Public Sector Company, Bharat Electronics Limited (BEL) and Thales are delighted to announce that the Boards of both companies have approved the formation of a Joint Venture Company subject to statutory approvals of the Government of India and the French Government. The JVC will be dedicated to the design, development, marketing, supply and support of civilian and select defence radars for Indian and Global markets. 

The parent companies aim at making the Joint Venture Company a centre of excellence with the ability to offer solutions specifically aimed at meeting the needs of both Indian and export customers. 

In strict accordance with Indian regulations, Thales will hold 26% equity, the maximum allowable holding interest by any foreign company in the defence sector, while Bharat Electronics will hold 74 % of the stock. 

BEL was established in Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialized electronic needs of the Indian defense services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company serving the needs of customers in diverse fields in India and abroad. BEL offers products and services in a wide spectrum of technology like Radars, Military Communications, Naval Systems, Electronic Warfare Systems, C4I Systems, Telecommunications, Sound and Vision Broadcasting, Opto-Electronics, Tank Electronics, Solar Photovoltaic Systems, Embedded Software and Electronic Components. With its expertise developed over the years, the company also provides turnkey systems solutions. 

Source: Thales