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Friday, May 08, 2015
Rolta India forms JV with Israeli firm Meprolight to make optronics devices
Mumbai May 4, 2015: Rolta India Limited, a provider of innovative IT solutions for various industry segments, has signed definitive agreement to establish a joint venture with Meprolight, the Israel-based electro-optics company, for manufacturing and developing state-of-the-art optronics devices based on image intensifier and thermal imaging technologies in India.
The JV, to be owned 51% by Rolta and 49% by Meprolight, will take advantage of technology transfer from Meprolight for manufacturing optronics devices, which can address the growing demand for night fighting capabilities by the Indian defence and security forces.
This JV will become operational on receipt of requisite approvals from respective Governments and leverage a broad spectrum of cutting-edge technologies, in the area of optronics from Meprolight, and Rolta's leadership position in the India, to address large requirements of defence, paramilitary forces and state police.
Orly Katsav, chairwoman, Meprolight Ltd, stated, "Our JV with Rolta will increase Meprolight’s footprint internationally through this strategic partnership. The creation of this joint venture is a significant milestone for us and this win-win partnership will leverage the resources and expertise of both companies to serve the Indian optronics and electro-optical devices market."
K K Singh, chairman and managing director, Rolta India Ltd, commented, “We are extremely pleased to be partnering with Meprolight to form this joint venture. This is an important event for our defence business and the next step in our efforts to address the complete sensor-to-shooter chain, through indigenous, made in India, solutions. Guided by a set of common values, this JV will share best practices through transfer of technology and bring in state-of-the-art optronics manufacturing capabilities into our country.”
Meprolight is a leading international electro-optics company, developing, manufacturing and marketing systems for infantry, armed forces, law enforcement agencies and civilian markets since 1990. Meprolight provides comprehensive solutions with a wide array of combat-proven products; electro-optical and optical sights and devices, night vision devices, thermal sights, laser rangefinders, hand held rangefinders and fire control systems and other tritium illuminated products and accessories for safety and security applications. Meprolight is a member of SK Group, a leading global defence and security group of companies.
Courtesy: Business Standard