L&T inks Pact with EADS for Opportunities in Aerospace & Defence

Larsen & Toubro Ltd (L&T) has announced that the Company and European aerospace and defence group EADS on February 09, 2007 took the first step towards joint exploration of business opportunities in defence and aerospace. Mr. M V Kotwal Senior Executive Vice President of the Company and Mr. Daniel Baubil, Executive Vice President and Head of Global Industrial Development of EADS, signed a Memorandum of Understanding (MoU), to establisi1 a long-term, profitable and stable relationship to better address the needs of the aerospace and defence markets in India and around the world. The signing took place at the Aero India 2007 exhibition in the city.

Mr. M V Kotwal, Senior Executive Vice President, of the Company said that, "the opening up and rapid growth of the defence market represents a major opportunity. This can lead to new forms of cooperation involving innovative technologies. As a Company that has been supplying critical equipment and systems to the strategic sectors of defence and aerospace for over four decades, we welcome this opportunity to induct state of the art technology, and expand our range of high value offering".

The agreement between the Company and EADS defines the formation of working teams to build a joint business model and appropriate common strategies on several key segments of the aerospace and defence market.

Source : Equity Bulls

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