L&T to form JV with Cassisdian

Mar 22, 2011, 15:51 IST

L&T & Cassidian announced the formation of a joint venture to address the Indian defence market.

Larsen & Toubro (L&T) and Cassidian on 10 February 2011 announced the formation of a joint venture to address the Indian defence market. Cassidian is the recently renamed division of EADS, the European defence and aerospace conglomerate. The new company poised to be a joint venture between L&T and Cassidian aimed to reach volumes of $0.5-1 billion within the next ten years. The 30-acre manufacturing base in Talegaon will integrate assemblies for defence production.

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