[Avionics Today 10-02-2014] Bharat Electronics Limited (BEL) and Thales announce that the Ministry of Corporate Affairs — a segment of the Government of India — has approved the incorporation of their joint venture company, BEL-Thales Systems, in late August this year. This joint venture company will primarily focus on the design, development, marketing, supply and support of civilian and select defense radars for India and the global markets. BEL holds a 74 percent stake while Thales holds 26 percent of the equity in the company.
The initial product portfolio of the joint company will comprise solutions for air surveillance, including Air Traffic Management (ATM) radars as well as select ground-based military radars. In a statement released by the joint company, the ultimate objective of the venture is to expand its scope in fields other than radars in the defense electronics domain.