Northrop Grumman Corporation and Dynamatic Technologies sign MOU for exploring business opportunities

Dynamatic Technologies Ltd has announced that Officials of Northrop Grumman Corporation and the Company on February 08, 2007 signed a memorandum of understanding (MoU) establishing a collaborative relationship for exploring joint new business opportunities related to India's national defence requirements.

"We look forward to working closely with Dynamatic Technologies to help meet the advanced technology aerospace and defense product and service needs identified by the Indian ministry of defence going forward," said Brian J Morra, sector vice president of business development and strategic planning for Northrop Grumman's Electronic Systems sector, a world-leading provider of advanced military radar, electronic warfare and other avionics systems.

"Given the growing requirements developing in the Indian forces, we are delighted to be working with Northrop Grumman to identify and pursue opportunities to serve India's defence needs," said Udayant Malhoutra, CEO and managing director of the Company.

The format agreement was signed in ceremonies at the Aero India air show and exposition, which is taking place from now through Feb 11 at the Yelahanka Air Force Station in Bangalore.

Dynamatic Aerospace®, a division of the Company, is a pioneer and a recognised leader in the India Private Sector for the development of complex aerostructures. Over the past decades, the Company has closely partnered the Ministry of Defense, Hindustan Aeronautics Ltd and other defense establishments on Key projects including the Lakshya, India's Pilotlees Target Aircraft, HJT-36 Intermediate Jet Trainer and Sukhoi MKI 30 Fighter Bomber. Dynamatic Areospace® has the largest infrastructure and Precision Aerospace Components. This is the first time such capabilities have been built in the India Private Sector. The Company is now consolidating its position through collaborations with International Aerospace majors on exports initiatives.

Northrop Grumman Corporation is a $30 billion global defence and technology Company whose 120,000 employees provide innovative systems, products and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.

Source : Equity Bulls

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