February 13, 2017 / 8:14 AM / a year ago

BRIEF-Larsen & Toubro, MBDA form JV for development of sophisticated missile systems

Feb 13 (Reuters) - Larsen & Toubro Ltd

* Says Larsen & Toubro and MBDA establish joint venture for development of sophisticated missile systems

* Says JV is expected to be incorporated in the first half of 2017 after necessary approvals.

* Says JV to develop and supply missiles and missile systems

* JV, ‘L&T MBDA Missile Systems Ltd’, will operate from work centre, which will include pyrotechnical integration and final checkout facilities

* L&T will own 51 pct of the company and MBDA, 49%, fully complying with India’s foreign direct investment (FDI) policy norms

* JV will be registered in india and conduct business as an indian company

* JV would focus on business opportunities in missiles and missile systems domain

* JV to look to develop, supply fifth generation anti-tank guided missiles, missiles for coastal batteries,high speed target drones Source text: bit.ly/2l6678x Further company coverage:

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