Pipavav Shipyard signs MoU with Saab Dynamics AB for defence co-production
Written by Vijay   
Tuesday, 28 December 2010
Mumbai: Pipavav Shipyard Limited has signed a Memorandum of Understanding with Saab Dynamics AB, a part of Swedish multinational giant - Wallenberg Group. This is the first major defence co-production initiative taken by Wallenberg Group in India and this MoU will enable the company to enter into army and air force segments.

The company has been chosen by Saab Dynamics AB as their Indian co-production & strategic partner to tap the opportunities in the Army, Navy and Air force segments.

This partnership offers access to the Wallenberg Group's cutting edge technology for products in the defence and aerospace sectors. With this engagement, the company would now be able to cater to the entire gamut of the defence services sector which should augment the performance of the company.

Saab caters to products, services and solutions from military defence to civil security. Its current important markets are Europe, South Africa, Australia and the US. Its operations are divided into five business areas viz. Aeronautics, Dynamics, Electronic Defence systems, security and defence solutions and support and services. India is a highly focused market as a part of the long term strategy of the group.

The Wallenberg Group has proprietary technology for products in the defence and aerospace sectors.

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