Hyderabad, April 11 (PTI): Cyient Limited today said it entered into a joint venture with Israel-based BluBird Aero Systems to offer field-proven UAV systems to Indian defence, paramilitary, security, and police forces.
The joint venture, named Cyient Solutions & Systems Private Limited, has 51 per cent and 49 per cent shareholding by Cyient and BlueBird respectively, a press release from Cyient said.
Both the companies signed the JV agreement today at DefExpo 2018 being held in Chennai.
Cyient Solutions & Systems will indigenise, manufacture, assemble, integrate, and test advanced UAV systems at its production facilities in Hyderabad by leveraging BlueBird s technology and manufacturing know-how, it said.
Cyient Solutions & Systems, supported by BlueBird, will also provide comprehensive aftermarket services, including spares, repairs, maintenance, and support to end-users across India, it added.
Cyient Chief Executive Officer and Managing Director, Krishna Bodanapu, said, “I am very excited about the joint venture with BlueBird Aero Systems that combines our design and manufacturing expertise to bring the best of UAV technology solutions to the Indian defence industry.
The joint venture also underlines the commitment of both partners to the government’s “Make in India” initiative, he added.
Cyient Solutions and Systems Managing Director and CEO, NJ Joseph said, BlueBird s world-class technology, combined with Cyient s manufacturing and aftermarket capabilities and local presence, offers exceptional value to the rapidly expanding market for UAV solutions in India.
This is published unedited from the PTI feed.