Tata forms JV with Lockheed Martin

The Tata group has boosted its chances of becoming the preferred local partner of US firms bidding to sell medium multi-role combat aircraft (MMRCA) to India in the world’s largest fighter jet deal.
On Monday, Tata Advanced Systems Ltd, a subsidiary of Tata Sons Ltd, signed an agreement with Lockheed Martin Corp. to form a joint venture (JV) company, Tata Lockheed Martin Aerostructures, to build aerostructures for the C-130 aircraft produced by the US firm.
Tata Industries Ltd, another group company, had formed a joint venture with Boeing Co. in 2008 to manufacture defence-related aerospace components in India for export to Boeing and its clients worldwide.
Both Lockheed Martin and Boeing are in the race to sell 126 MMRCA to India for $11 billion (Rs.50,050 crore), along with Sweden’s Saab AB, Paris-based Dassault Aviation SA, Moscow-based United Aircraft Corp., and EADS NV. Bidding is expected to begin in a month.
Whoever wins the contract will have to source components and systems from local vendors worth at least 30% of the order’s value, under India’s defence offset policy.
Tata Advanced Systems has also teamed up with Sikorsky Aircraft Corp. and United Technologies to manufacture S-92 helicopter cabins in India.
15/02/11 P.R. Sanjai/Live Mint

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Categories: Foreign Feb 2011, New Feb 2011