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Mahindra Announces Two Joint Ventures At DefExpo 2012 In India

NEW DELHI, India, March 30, 2012 /PRNewswire/ --

From left: Brig (RETD) K.A. Hai Chief Executive, Mahindra Defence Systems, Mr. Anand Mahindra,Vice Chairman & Managing Director, Mahindra & Mahindra Ltd., V Admiral ( Retd) Yedida Yaari, CEO, Rafael, Maj Gen (Retd.) Ilan Biran Chairman, Rafael & Giora Katz- VP GM land & Naval Systems Sector, Rafael

From left: Brig (Retd) KA Hai, Chief Executive, Mahindra Defence Systems, Mr. Anand Mahindra, Vice Chairman & Managing Director, Mahindra Group & Mr. Joe Battaglia, CEO, Telephonics Corporation

Mahindra & Mahindra Ltd., one of India's leading business houses, today announced two Joint Ventures at the DefExpo 2012 held in Delhi.

     (Logo: http://www.newscom.com/cgi-bin/prnh/20110726/471752 )

MoU with Rafael Advanced Defence Systems

The company's MoU with Rafael Advanced Defence Systems Ltd., a manufacturer of high tech defence systems for air, land, sea and space applications, will lead to the formation of a Joint Venture Company in India. The JV will develop and manufacture products such as Anti Torpedo Defence Systems, Electronic Warfare Systems, Advanced Armouring Solutions and remotely operated weapon stations for Futuristic Infantry Combat Vehicles (FICV).

Simultaneously, the Foreign Investment Promotion Board (FIPB) has been approached for the creation of a 74:26 company.

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