French group inks missile deal with India firm

11th February 2005, Comments 0 comments

BANGALORE, India, Feb 11 (AFP) - European consortium MBDA said Friday it has signed a pact with India's Bharat Dynamics to manufacture anti-tank infantry missiles for the Indian and French markets.

BANGALORE, India, Feb 11 (AFP) - European consortium MBDA said Friday it has signed a pact with India's Bharat Dynamics to manufacture anti-tank infantry missiles for the Indian and French markets.

In a joint statement, the consortium, in which British firm BAe Systems owns a 37.5 percent stake, said it would set up a factory either in India or Europe to make the missiles and export them to other nations.

Both the firms are already in a joint venture to produce Indian and Milan ER anti-tank missiles. The Milan ER missiles have been produced under licence from MBDA by Bharat Dynamics since 1981 for the Indian military.

The Indian state-owned missile maker, Bharat Dynamics, and the European consortium gave no financial details about the deal.

The European Aeronautic Defence and Space Company holds 37.5 percent of MBDA while Italy's Finmeccanica has 25 percent.

© AFP

Subject: French News

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