Is­rael Aerospace In­dus­tries and Kalyani Group to in­cor­po­rate a JV to man­u­fac­ture spe­cific air de­fence sys­tems

SP's MAI - - CORPORATE NEWS -

Is­rael Aerospace In­dus­tries Ltd (IAI) and Kalyani Strate­gic Sys­tems Ltd (KSSL), the de­fence arm of Kalyani Group, signed a mem­o­ran­dum of un­der­stand­ing (MoU) to in­cor­po­rate a joint ven­ture com­pany ( JVC) in In­dia. As part of the MoU, IAI and KSSL are aim­ing to ex­pand their pres­ence in the In­dian de­fence mar­ket and to build, mar­ket and man­u­fac­ture spe­cific air de­fence sys­tems and light­weight spe­cial pur­pose mu­ni­tions.

The MoU was signed in Bengaluru, at the Aero In­dia ex­hi­bi­tion, by Joseph Weiss, IAI’s Pres­i­dent and CEO, and Baba Kalyani, Chair­man of Kalyani Group. The MoU is the first step of a process to es­tab­lish a JVC be­tween the two com­pa­nies. The JVC will in­te­grate strate­gic state-of-the-art de­fence sys­tems for the In­dian MoD in ac­cor­dance with the In­dian Gov­ern­ment’s ‘Make in In­dia’ pol­icy. Joseph Weiss said: “We are ex­cited to an­nounce the next step in our part­ner­ship in In­dia, one of IAI’s lead­ing mar­kets. This col­lab­o­ra­tion brings to­gether the man­u­fac­tur­ing and tech­nol­ogy ex­cel­lence of two lead­ing com­pa­nies and we hope we can con­tinue with our part­ners at KSSL to spread our foot­print in In­dia and to con­tinue our vast work with the ‘Make in In­dia’ pol­icy”.

Baba Kalyani said: “The joint ven­ture com­pany will com­bine IAI’s ad­vance tech­nol­ogy, knowl­edge and ex­pe­ri­ence as an OEM with world-class de­sign, de­vel­op­ment and man­u­fac­tur­ing ca­pa­bil­i­ties of the Kalyani Group. The joint ven­ture will pro­vide indigenously man­u­fac­tured so­lu­tions in niche tech­nol­ogy ar­eas of de­fence sec­tor, thereby fur­ther­ing the ‘Make in In­dia’ ini­tia­tive of the gov­ern­ment”.

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