Statement on Joint Venture
Jan 23, 2013
Received this press release that is a bit blurred-
NEW DELHI–Since the establishment in 2009 of the Mahindra & Mahindra (74%) and BAE Systems (26%) Joint Venture, Defence Land Systems India (DLSI), both shareholders recognise that significant evolution has occurred in the Indian Land Systems market. Developments in both the industry environment and in customer procurement frameworks and acquisition strategies have led the shareholders to institute a strategic review of the business. This review will assess any changes necessary to address the evolving market and to meet emerging customer requirements. No decision has yet been taken on the way forward.