BEML to pay 55 per cent interim dividend

New Delhi, Feb 19 (UNI) Bharat Earth Movers Limited (BEML), a Defence PSU has declared an interim dividend of 55 per cent for the current financial year.

Announcing the results here today, the Chairman and Managing Director of BEML V R S Natarajan said this is a new record by the company. ''During the last financial year, BEML has paid an interim dividend of 40 per cent, and has an MoU target of Rs 2756 crore for FY 07 -08,'' informed Mr Natarajan.

Referring to the latest products developed by the company and displayed in the DefExpo-08, he said these include Command Post Vehicle, TATRA Driving Simulator, Armoured Recovery vehicle built in collaboration with M/s Bumar, Poland, Crash Fire Tender built in collaboration with M/s Tatra UK, and Weapon Loading System (BHIMA).

The company is also displaying for the first time the aircraft towing tractor with ground power unit and Pontoon End shore section and road laying section built indigenously with 100% indigenous R&D efforts, he added.

Mr Natarajan further said BEML has emerged as a major base for manufacture and supply of various land and ground support equipments and critical aggregates in the country. With BEML planning to increase its contribution to the defence sector, the company has been making strenuous efforts diversifying the portfolio of products in Defence.

BEML also provides effective logistics support to the armed forces in terms of training of service men and stocking of spare parts across the country, he asserted.

Replying to questions, Mr Natarajan said BEML has signed the Memorandum of Association with General Dynamics, Canada for four-wheeled Armoured Patrol Vehicle (Duro APV MK III). This vehicle is Small Arms and Mine protected.

This MoU will be for producing and marketing in the Indian and global market. He also said BEML has signed MoU with M/s WFEL, UK to offer 46 mtrs Dry Support Bridges to the Indian Army.

Mr Natarajan further added that BEML has extended the MoU with M/s TATRA SIPOX, UK for Technology transfer, production and marketing of 20 tons to 25 tons capacity Tippers to Indian Metal, Mining and Coal markets. These range of vehicles have great demands in the mining sector, and M/s TATRA has also agreed to offer the complete ToT for BS II Engines for 4x4, 6x6 and 8x8 BEML TATRA Defence trucks to India with global outsourcing for overseas market.

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