Javelin Joint Venture Signs Letter of Intent With India's Tata Power
The Javelin™ Joint Venture team, a partnership between Raytheon Company (NYSE: RTN) and Lockheed Martin (NYSE: LMT), signed a letter of intent (LOI) with Tata Power Company Limited operating through its Strategic Engineering Division (SED), to explore co-development and production of the Javelin anti-armor missile system.
"This agreement brings together three world leaders in aerospace and defense technology to extend Javelin to new customers, new applications and new platforms," said John Halvey, Javelin Joint Venture president at Raytheon Missile Systems. "With this deal, we are also reinforcing our continued support of the 'Make in India' initiative."
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As part of the LOI, the Javelin Joint Venture (JJV) and Tata Power SED will create a strategy to co-develop and produce the Javelin missile system and integrate platform mounts to meet Indian requirements. This includes ground combat vehicle, dismounted infantry and rotorcraft applications.
"The combat-proven Javelin continues to fulfill a critical precision-strike role with our domestic and international partners," said Rich Benton, Javelin Joint Venture vice president and Javelin program director at Lockheed Martin Missiles and Fire Control. "We look forward to working with Tata Power SED to maximize the versatility and lethality of Javelin on these new platforms."
In addition to meeting the Government of India's "Make in India" objectives, the LOI establishes a framework for future technological cooperation between the Javelin Joint Venture and Tata Power SED.
"Since the early 1980s,Tata Power SED has established its R&D and 'Make in India' credentials, as part of Dr. Kalam's Integrated Guided Missile Development Program," said Rahul Chaudhry, Chief Executive Officer at Tata Power SED. "Now, our partnership with the JJV will bring the world's best technology to our soldiers enabling battlefield supremacy. Indian industry will benefit immensely from the depth and range of this planned technology transfer and co-development."
Source : Raytheon Corporation (NYSE: RTN) - view original press release
Sep 28 - 30, 2016 - Washington, United States