NEW DELHI, India, Feb. 8, 2007 /PRNewswire/ -- Raytheon Company (NYSE:
RTN) has signed a memorandum of intent with Tata Power Strategic
Electronics Division (Tata Power SED). The agreement is designed to
encourage collaboration in areas of complementary expertise and experience
as a first step toward forging new relationships with a range of Indian
technology companies.
The electronics division of Tata Power is viewed as a good fit with
Raytheon's core business, according to Wes Motooka, vice president for
international business development at Raytheon Space and Airborne Systems.
He expects the flexibility of this joint approach to allow both companies
to respond effectively to address emerging opportunities.
"While Raytheon has conducted business in India for many years, we are
now looking to develop our relationship and presence here in a more
meaningful way over the long term," Motooka said. "India has a strong pool
of talent, so it makes perfect sense for us to combine Raytheon's
world-class technology with the best local expertise as we develop
capabilities and solutions to support the nation's emerging requirements."
Rahul Chaudhry, chief executive officer of Tata Power SED, noted that,
"Tata Power SED has harnessed its multi-disciplinary capabilities required
for defense systems for more than four decades. Engaging with a world
leader like Raytheon will bring the benefits of scale and experience to
Tata Power SED, allowing us to leverage the offset and other business
opportunities, thus enabling us to serve our customers better."
Since the early 1970s, Tata Power SED has been a leading private-sector
player in the indigenous design, development, production, supply and
maintenance of defense systems. Recently, Tata Power SED secured orders for
the Pinaka Multi-barrel Rocket Launcher System from the Indian Army and the
Futuristic Automatic Data Handling System for Air Defense from the Indian
Air Force.
Raytheon Company, with 2006 sales of $20.3 billion, is an industry
leader in defense and government electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Waltham, Mass., Raytheon employs more than 80,000
people worldwide.
Contact
Faith Jennings
310 334 2553 office
310 977 1963 mobile
faith_jennings@raytheon.com
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Faith Jennings of Raytheon Company,
+1-310-334-2553, or mobile, +1-310-977-1963, or
faith_jennings@raytheon.com
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