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54
MOTORINDIA
l
May 2012
M&M-Rafael
pact for JV
to manufacture advanced
defence products
Mahindra & Mahindra Ltd. and
Rafael Advanced Defense Systems
Ltd. manufacturing high-tech de-
fence systems for air, land, sea and
space applications have signed a
memorandum of understanding for
formation of a joint venture compa-
ny in India. The JV will develop and
manufacture products such as anti-
torpedo defence systems, electronic
From left, Brig (Retd.) K.A. Hai Chief Executive, Mahindra Defence Systems, Mr. Anand Mahindra, Vice
Chairman & Managing Director, Mahindra & Mahindra, and Maj Gen( Retd) Ilan Biran Chairman, Rafael,
after signing the agreement
Pune which will also be the location
of a production facility to be set up
to meet the long-term requirements
of the JV company.
Speaking on the occasion, Mr.
Anand Mahindra, Vice Chairman
& Managing Director, Mahindra
& Mahindra Ltd., observed: “Our
joint venture with Rafael signals our
strategic entry into a wide range of
warfare systems, advanced armour-
ing solutions and remotely-operated
weapon stations for Futuristic Infan-
try Combat Vehicles (FICVs).
Simultaneously, the Foreign In-
vestment Promotion Board (FIPB)
has been approached for the crea-
tion of a 74:26 company. Rafael will
make investments in Mahindra’s
existing Naval Systems Division in