Raytheon Aligns with Indian Companies to Pursue Emerging Opportunities
NEW DELHI, India, Nov. 13, 2007 /PRNewswire/ -- Forging strategic alignments intended to help develop superior defense technology for India's military forces, Raytheon Company (NYSE: RTN) has signed memorandums of understanding with five major Indian companies.
The firms are Wipro Limited, Bharat Electronics Limited, Larsen & Toubro Limited, Godrej & Boyce Manufacturing Company Limited, and Data Patterns (India) Private Limited.
The MOUs represent another step toward establishing a strong working relationship, encouraging pursuit of emerging business opportunities, and providing for in-country offset. They also will pave the way for more exchanges of technology and business know-how between India and the U.S.
"These strategic alignments make good business sense for Raytheon and for India," said Wes Motooka, vice president for international strategy and business development at Raytheon Space and Airborne Systems. "Our Indian associates are highly respected, proven technology suppliers, and our complementary capabilities will bring great value to India's military forces."
Forming these relationships is a critical phase of Raytheon's plan to build a team committed to providing the best solutions for India's military forces. With an MOU signed earlier this year, Raytheon is also working closely with the Strategic Electronics Division of Tata Power Company.
The six companies are among the largest and most respected manufacturers of technology and defense equipment for India's military forces. They produce a wide range of products in the areas of communications, radar, naval systems, telecommunications and broadcast, electronic warfare, tank electronics, opto- electronics, professional electronic components, and solar photovoltaic systems.
Raytheon Company, with 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.
Note to Editors For more information on the companies, go to: Wipro Limited -- http://www.wipro.com/ Bharat Electronics Limited -- http://www.bel-india.com/BelWebsite/Home.htm Larsen & Toubro Limited -- http://www.larsentoubro.com/ Godrej & Boyce Manufacturing Company Limited -- http://www.godrej.com/ Data Patterns (India) Private Limited -- http://goliath.ecnext.com/coms2/product-compint-0001333243-page.html Tata Power Company -- http://www.tatapower.com/news.php?op=details&id=88 Contact: Ron Colman 805.879.2041 [email protected] http://www.raytheon.com/
SOURCE: Raytheon Company
CONTACT: Ron Colman of Raytheon Company, +1-805-879-2041,
Web site: http://www.raytheon.com/