Friday, November 18, 2011

Mahindra & Mahindra and Telephonics Corporation sign MoU

Mahindra & Mahindra  and Telephonics Corporation, a leading designer, developer and manufacturer of high-technology integrated information, communication and sensor system solutions to military and commercial markets worldwide and a subsidiary of Griffon Corporation have signed a Memorandum of Understanding to form a Joint Venture to provide the Indian Ministry of Defense and the Indian civil sector with radar and surveillance systems, Identification Friend or Foe (IFF) devices and communication systems.  

In addition, the JV intends to provide systems for Air Traffic Management services, Homeland Security and other emerging surveillance requirements, says a statement.

Approval  is being sought from the Foreign Investment Promotion Board of the Government of India (GoI) for the establishment of the JV in accordance with the current defence sector Foreign Direct Investment regulations of the GOI.

The project envisages establishing a plant in India which would manufacture and service airborne radar systems that are already being supplied to Hindustan Aeronautics Ltd (HAL) and to support airborne maritime surveillance systems for the Indian Navy and Coast Guard. The JV will license technology from Telephonics for use on a wide range of products that have both defence and civil applications.

Brig Khutub Hai,CEO of Mahindra Defense Systems, a division of Mahindra and Mahindra, said “By partnering with Telephonics, Mahindra will become a three-dimensional force providing products for Land, Maritime and Air platforms. Telephonics is an acknowledged leader in the field and will allow us to achieve our ambition to become a leading systems integrator for defence applications.”
"We are very pleased to be partnering with Mahindra, a leading player in the defense sector."

According to Joseph Battaglia, CEO and President of Telephonics Corporation: "The defense market in India is an important part of our international expansion plans and Mahindra is the right company for us to grow with in India."

Telephonics has already established a presence in the Indian defense and civil markets.  For example, Telephonics supplies RDR-1400 weather avoidance radar systems for helicopters being built in Bangalore, India. It is also contracted to supply Boeing with APS - 143C (V)3 Multi-Mode Radars (MMR) for India's P-8i Maritime Surveillance aircraft, and is responsible for installation of a sophisticated intercommunication systems for the C-17 Globemaster contracted for by the Indian Air Force. 

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