By P.R. Venkat
A joint venture between India's Larsen & Toubro Ltd. (500510.BY) and European missile manufacturer MBDA has established a missile integration facility in Tamil Nadu, India.
The joint venture, L&T MBDA Missile Systems, set up the 16,000-square-meter assembly, integration and testing facility for missile subsystems and missile weapon launch systems in a special economic zone in Coimbatore city, the companies said in a statement Monday.
L&T MBDA has received a few export orders and the new facility will start delivering weapon systems such as missile launchers and airframe segments, including control actuation units, from 2020, according to the statement.
The joint venture will also build missile systems for the Indian armed forces.
L&T holds a 51% stake in the joint venture, while MBDA owns 49%.
MBDA is 37.5% held by Airbus SE, 37.5% by BAE Systems and 25% by Leonardo.
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