New Delhi, February 10: Aiming to tap the defence electronics market, Indian engineering giant Larsen and Toubro (L&T) today signed a Memorandum of Understanding with European arms manufacturing company Cassidian in Bangalore.
Cassidian is the newly renamed defence and security division of Europe’s leading aerospace group EADS.
The deal for joint development and market exploration for defence products in the fields of electronic warfare, radars, avionics and mobile systems was signed by M V Kotwal, President Heavy Engineering, L&T and Bernd Wenzler, CEO of Cassidian Electronics.
L&T will hold 74 per cent of the joint venture. The systems design and engineering activities of the projects under the JV would take place at Cassidian’s newly opened engineering centre in Bangalore.
–Agencies