Bharat Electronics to form JVC with Thales to build civilian and defence radars

30 Aug 2012 Evaluate

Bharat Electronics (BEL) will form a joint venture company (JVC) with French aerospace and electronics major Thales, which will be dedicated to the design, development, marketing, supply and support of civilian and select defence radars for Indian and global markets.

The French company will hold 26% stake in JVC which is in-line with the current Indian foreign direct investment (FDI) norms in the defence sector. The remaining 74% equity will be held by the state-run BEL.

Both the company has received its board approval to form JVC, which is further subject to mandatory approvals of the respective governments. The two companies had signed a memorandum of understanding three years ago.

Bharat Electronics was set up at Bangalore by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. It offers services such as radars, military communications, naval systems, electronic warfare systems, opto-electronics, solar photovoltaic systems, embedded software and electronic components.

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