Larsen

By Staff
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Google Oneindia News

Mumbai, Feb 09: Larsen&Toubro (L&T) and the EuropeanAerospace and Defence group EADS will take up joint exploration ofbusiness opportunities in defence and aerospace.

L&T's Senior Executive Vice President M V Kotwal and ExecutiveVice President and Head of Global Industrial Development of EADS MrDaniel Baubil, today signed a Memorandum of Understanding (MoU) toestablish a long-term, profitable and stable relationship to betteraddress the needs of the aerospace and defence markets in India andaround the world, the company said in a notice issued to Bombay StockExchange today. The signing took place at the Aero India 2007exhibition in the city.

According to Mr Kotwal of L&T, ''The opening up and rapidgrowth of the defence market represents a major opportunity. This canlead to new forms of cooperation involving innovative technologies. Asa company that has been supplying critical equipment and systems to thestrategic sectors of defence and aerospace for over four decades, wewelcome this opportunity to induct state of the art technology andexpand our range of high value offering''.

The agreement between the company and EADS defines the formationof working teams to build a joint business model and appropriate commonstrategies on several key segments of the aerospace and defence market.


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