Cassidian Electronics sees strategic role for India in its defense and security products
Neelam Mathews March 12, 2011 Time Released: 1:17 AM IST The first product emanating from the joint venture signed between Larsen & Toubro and Cassidian Electronics (74%-26% stake) will roll out in the third quarter of 2011, Bernd Wenzler, CEO Cassidian Electronics says. The JV will be active in electronic warfare, airborne technologies, avionics, radars and mobile systems. The agreement is (mutually) exclusive to the two companies in the defense electronics domain. “We will transfer technology which we are allowed to transfer, first, to our engineering center in Bangalore and then to L&T for products (customized) for the Indian market. We will also look at selling them to the global market place.” Wenzler estimates the business just for India's domestic needs will be worth around $500million in ten years. The JV company is based in Talegaon, near Pune. Trust in the private partner is apparent. “We feel IPR issues are easy to deal with if we have a partner we can trus...