Joint Venture21 Apr 2025, 07:57 pm
DCX Systems Ltd Executes Joint Venture Agreement with IAI's ELTA Systems Limited for 'Make in India' Radar Systems Projects
AI Summary
DCX Systems Ltd has executed a Joint Venture Agreement with IAI's ELTA Systems Limited and its group companies for the purpose of establishing a Joint Venture Company in India. The JVC will conduct business in the areas of Airborne Maritime Radar System, Fire Control Radar System and other Radar Systems for Airborne and Land applications under 'Make in India' projects. DCX will hold 37% of the equity shares in the JVC, while ELTA Group will hold 63%. The Chief Executive Officer and the Chief Financial Officer of the JVC will be nominated by ELTA, subject to the approval of the Board.
Key Highlights
- DCX Systems Ltd and IAI's ELTA Systems Limited have entered into a Joint Venture Agreement for 'Make in India' projects.
- The Joint Venture Company will conduct business in the areas of Airborne Maritime Radar System, Fire Control Radar System and other Radar Systems for Airborne and Land applications.
- DCX will hold 37% of the equity shares in the JVC, while ELTA Group will hold 63%.
- The Chief Executive Officer and the Chief Financial Officer of the JVC will be nominated by ELTA, subject to the approval of the Board.
- The Joint Venture Agreement is in line with the 'Make in India' initiative, promoting indigenous manufacturing and technology transfer.