Paras Defence and Space Technologies has informed that the company (‘PARAS’) has signed a Memorandum of Understanding (MoU) with Cielo Inertial Solutions (‘CIELO’), Israel. CIELO is a global technology expert in inertial solutions and an Israeli manufacturer of Closed Loop FOGs, IMUs, GyroCompass, North Finding Systems and INS. PARAS and CIELO will combine their respective capabilities in order to promote and pursue opportunities in India for the adaptation, marketing, sale and production of Inertial Sensors and Closed Loop FOG based Inertial Solutions.
The above information is a part of company’s filings submitted to BSE.
