Defence electronics major BEL sitting on fat order book

By Staff
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Google Oneindia News

Bangalore, Feb 8 (UNI) Sitting pretty with a fat order book of Rs 7374 crore, State owned Defence electronics major Bharat Electronics has signed a deal and an MoU at the ongoing Aero India 2007 and expecting more development during the five-day show ending February 11.

BEL new Chairman and Managing Director V V R Shastry told newsmen at the show that BEL gave a letter of intent to Elbit for manufacture of tactical computers and Elbit gave a supply order worth 450,000 US Dollars for gun display unit and other accessories required for Ireland.

Expecting to end the current fiscal with a turnover of Rs 4,000 crore of which exports should comprise of 20 Million US Dollars, BEL also signed a Memorandum of Understanding with Northrup Corporation to explore business opportunities on potential co-production opportunities in support of Indian Government's current and future aerospace and defence electronics as well as Norththrop Grumman's international market requirement.

Mr Shastry said the Company would also sign MoU with Lockheed Martin to offer products in tune with the new offset policy announced in the defence procurement policy. Lockheed Martin was gunning for the 126 multirole combat aircraft order from the IAF for which the Request for proposal was to be relesed shortly. Similar talks were also on with Boeing and Gripen the other two contenders for the biggest defence order of the world in the last 15 years.

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