LYSTRUP, Denmark, December 14, 2010 /PRNewswire/ -- Today, Indian defense major Bharat Electronics Limited (BEL) and Danish company Terma signed a strategic Memorandum of Agreement (MoA) on cooperation in various fields of defense technology.
The signing ceremony took place under the patronage of the Danish Minister for Foreign Affairs, Ms Lene Espersen, who is in India this week to discuss bilateral cooperation between the two countries.
The agreement sets the frame for current and future cooperation between the two companies, leveraging and complementing the unique strengths of the companies. Under the MoA, BEL and Terma will cooperate on naval radar technology and aircraft self-protection.
"This tie-up is very strategic and BEL is looking forward to working together closely with Terma. This partnership will be mutually beneficial and rewarding. BEL can help Terma meet its offset obligations in some upcoming big projects," said BEL Executive Director (International Marketing), Mr G D Gupta.
"We know BEL as a serious and highly experienced company which we are looking very much forward to cooperate with," said Terma Corporate Vice President, Customers & Markets, J0rn Henrik Levy Rasmussen.
"This important agreement is not limited to the Indian market but includes opportunities to cooperate on other markets of common interest and the possibilities for sourcing work from BEL to Terma's ongoing business," said Levy Rasmussen.
BEL is the primary integrator and supplier of defense electronics to and a trusted partner of the Indian Armed Forces. Terma is a niche-oriented aerospace & defense company with customers around the world.
In India, Terma sees potential for its advanced surveillance radars for coastal and maritime applications. The future potential also includes participation with Lockheed Martin in the Medium Multi-Role Combat Aircraft (MMRCA) tender, where Terma will supply the self-protection system for the F-16IN. Furthermore, Terma possesses a wide range of capabilities in naval-related products and technologies.
The agreement signifies great potential for cooperation between India and Denmark as well as for leading aerospace, defense and security companies like BEL and Terma.