Tata Industries, a Tata Group company, and the Boeing Company, the world's largest aerospace and defence conglomerate, have agreed to float a joint-venture company to execute orders worth more than $500 million of defence-related aerospace component.
The main purpose of this joint venture company, to be established by June this year, is to serve Boeing and Tata’s international customers in defence and aerospace services.
Under the memorandum of agreement signed by both sides, the JV will begin building Boeing aerospace components shortly after forming the company. Tata is likely to have a majority stake in the company.
It is the intent of Boeing and Tata to use not only existing Tata manufacturing capability but to develop new supply sources throughout the Indian manufacturing and engineering communities for both commercial and defence applications.
Manufacturing capabilities established within the joint-venture company would in later phases be leveraged across multiple Boeing programs including the Medium Multi-Role Combat Aircraft (MMRCA) competition.
In the first phase of the agreement, Boeing would potentially issue contracts for work packages to the joint-venture company involving defense-related component manufacturing on Boeing’s F/A-18 Super Hornet for the U.S. Navy and Royal Australian Air Force, CH-47 Chinook and/or P-8 Maritime Patrol Aircraft. A research and development centre for advanced manufacturing technologies is also contemplated.
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