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February 10, 2016

Bharat Forge arm forms JV with Rafael Advanced Defense Systems

 Auto component major Bharat Forge arm Kalyani Strategic Systems today entered into a joint venture partnership with Israel’s Rafael Advanced Defense Systems to bid for defence programmes in India, including infantry combat vehicle BMP II upgrade.
The joint venture company Kalyani Rafael Advanced Systems Pvt Ltd will look to address programmes in relation to BMP II upgrade, tactical control systems, other advanced systems and other such programmes floated or to be floated by the Ministry of Defence, Bharat Forge said in a BSE filing.
The company, however, did not share details of the JV such as stake holding between the partners.
Bharat Forge has been a key supplier of components to the Indian defence establishment for over 30 years. It has stated that it would focus on capturing opportunity arising out of Make in India initiative of the government through supply of critical components in both defense and aerospace sector.
Rafael develops and manufactures advanced defense systems for the Israeli defense forces and the defense establishment, as well as for foreign customers around the world. It is among the top defence firms in Israel.

ET

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