Israel Aircraft Industries (IAI) and Hindustan Aeronautics are to establish a joint defence electronics subsidiary to serve as a local base for the maintenance and upgrade of Israeli-made systems procured by the Indian armed forces. IAI, through its Elta defence electronics subsidiary, will acquire a 20-30% stake in the joint subsidiary, Hella, with an investment of approximately $10 million. Talks are in their final stage and the investment is subject to Israeli government approval.
Source: Flight International
