Boeing Inks India MOU

Boeing signed a 10-year Memorandum of Understanding (MOU) with India's Hindustan Aeronautics Ltd. (HAL), intended to bring more than $1 billion of new aerospace manufacturing work to India. Under the agreement, the companies said they will explore business opportunities aimed at transferring work packages to India with an initial value of $10 million to $20 million annually, increasing in size and complexity as business opportunities develop. Boeing also will support HAL in developing manufacturing processes and capabilities needed for the production of hardware for Boeing and/or its subcontractors. HAL agrees to offer Boeing competitive pricing and to invest in the required manufacturing infrastructure, the companies said. Bangalore-based HAL is involved in the design, development, manufacture and maintenance of advanced fighters, trainers, helicopters and associated engines, accessories, avionics and airborne systems.