Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) and Telephonics Corporation, a subsidiary of Griffon Corporation has signed a memorandum of understanding (MOU) to form a joint venture (JV) to provide the Indian Ministry of Defence (MOD) and the Indian civil sector with radar and surveillance systems, Identification Friend or Foe (IFF) devices and communication systems. In addition, the JV intends to provide systems for Air Traffic Management services, Homeland Security and other emerging surveillance requirements. By partnering with Telephonics, M&M will become a three-dimensional force providing products for land, maritime and air platforms.

The project envisages establishing a plant in India, which would manufacture and service airborne radar systems that are already being supplied to Hindustan Aeronautics (HAL) and to support airborne maritime surveillance systems for the Indian Navy and Coast Guard. The JV will license technology from Telephonics for use on a wide range of products that have both defence and civil applications.

Approval is being sought from the foreign investment promotion board of the Government of India (GoI) for the establishment of the JV in accordance with the current defence sector Foreign Direct Investment regulations of the GOI.

Telephonics Corporation is a leading designer, developer and manufacturer of high-technology integrated information, communication and sensor system solutions to military and commercial markets worldwide.

Telephonics has already established a presence in the Indian defence and civil markets. For example, Telephonics supplies RDR-1400 weather avoidance radar systems for helicopters being built in Bangalore, India. It is also contracted to supply Boeing with APS - 143C (V) 3 Multi-Mode Radars (MMR) for India's P-8i Maritime Surveillance aircraft, and is responsible for installation of a sophisticated intercommunication systems for the C-17 Globemaster contracted for by the Indian Air Force.