HAL inks MOU with EADS
Bangalore, Sep 1 (UNI) Enlarging on the existing cooperation, defence aviation major Hindustan Aeronautics Limited (HAL) today signed a Memorandum of Understanding (MoU) with EADS to target new market segments mutually cashing on each other's expertise.
HAL Chairman Ashok K baweja and EADS CEO Dr Tom Enders signed the MoU here today.
HAL, later in a release, said the two companies would carry out a joint analysis of mid-term and long-term strategies on the key segments of aerospace business in the coming months to determine how both groups could team up and benefit from each other's expertise to develop their activities.
''HAL and EADS are already long-term partners, working together to manufacture helicopters and passenger jets,'' said Dr Enders.
''We appreciate the excellent level of skills in design and manufacturing, which make HAL a valuable partner for global cooperation in aerospace and defence. During my visit to HAL facilities in Bangalore, I was impressed by the quality of the production and technological capabilities,'' he added.
Acknowledging the rapid growth of HAL to emerge as a major player in aerospace sector Bangalore Complex Managing Director A K Saxena said that it could benefit from teaming with a global player like EADS to accelerate its development and gain access to export market through joint marketing agreements.
This memorandum would define the products for which HAL and EADS would join their efforts he added.
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