Tata, Lockheed Martin in JV to make aerostructures in India
Tata Advanced Systems and Lockheed Martin Corporation, on Monday announced the formation of a new joint venture company called Tata Lockheed Martin Aerostructures to manufacture aerostructures for the C-130 aircraft produced by Lockheed Martin.business Updated: Feb 14, 2011 15:19 IST
Tata Advanced Systems and Lockheed Martin Corporation, on Monday announced the formation of a new joint venture company called Tata Lockheed Martin Aerostructures to manufacture aerostructures for the C-130 aircraft produced by Lockheed Martin.
The new Tata Lockheed Martin Aerostructures facility is export-oriented and the products manufactured will form a key aircraft structure that Lockheed Martin will integrate and complete for its global C-130 aircraft customers, a press release issued here stated.
Tata Advanced Systems is a wholly-owned subsidiary of Tata Sons focused on providing integrated solutions for aerospace, defence, homeland security and disaster management.
Tata group Chairman, Ratan Tata, said "we are very proud of our association with Lockheed Martin and believe it will raise the capability of the aerospace industry in India as also complement the efforts of our defence public sector undertakings."
Lockheed Martin's Executive Vice-President Aeronautics, Ralph D Heath, said that "this partnership is established as a strategic element of our global supply-chain and solidifies our presence in India. We are confident it will enhance long-term competitiveness of the C-130 and assure its production for decades to come."
The $46 billion Lockheed Martin is a global security company that employs about 1,32,000 people worldwide and is principally engaged in the research, design, manufacture, integration and sustainment of advanced technology systems, products and services.