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Journalism of Courage
The Tata Group has signed an agreement with Boeing to form a joint-venture company. The company will undertake more than 500 million of defence related aerospace component work in India for export to Boeing and its international customers.
8220;This joint venture is an important part of our strategy to build capabilities in defence and aerospace,8221; said Ratan Tata, chairman of the Tata Group.
The company will be established by June 2008. Boeing and Tata intend to utilise not only the existing Tata manufacturing facilities but to develop new supply sources throughout the Indian manufacturing and engineering communities for both commercial and defence applications.
The manufacturing capabilities established within the joint-venture company would in later phases be leveraged across multiple Boeing programs, including the Medium Multi-Role Combat Aircraft MMRCA competition.
8220;The venture will bring real and lasting value to India8217;s aerospace industry and make Boeing products more globally competitive,8221; said Boeing Integrated Defence Systems president and CEO Jim Albaugh.
