Bharat Forge’s subsidiary, Kalyani Strategic Systems (KSSL), announced some important partnerships on Thursday, after market hours. Firstly, the defence major’s subsidiary signed a memorandum of understanding (MoU) with Thales to establish rocket systems in India.
Secondly, KSSL will partner with the FN Browning Group subsidiary, FN Herstal, to develop local manufacturing to support the country’s defence requirements. Here are all the important details on these agreements.
These partnerships provide a boost to the company’s objective of supporting the Make in India mission through local manufacturing, technology cooperation and the development of advanced defence capabilities, aimed at creating lasting value for India and its armed forces, the company said.
Bharat Forge-Thales to establish 70 mm rocket systems
Bharat Forge’s wholly owned subsidiary, KSSL, signed a strategic alliance agreement with Thales for the exploration of unguided and laser-guided variants of Thales’ 70-mm rocket systems. These variants are already in use by the Indian armed forces, and the agreement was inked during the Bekgian state visit to India.
Under the collaboration, Thales and KSSL will combine their technical expertise to create capabilities capable of meeting domestic requirements and supporting international opportunities.
Bharat Forge, in its press release, said Thales will contribute its expertise in 2.75-inch / 70-mm rockets and launchers developed in Belgium, while KSSL will utilise its local manufacturing and testing facilities to support production and integration of components from Thales to ensure international quality standards are met.
Bharat Forge-Thales: Management commentary
Commenting on the development, Ankur Kanaglekar, Vice-President – India, Thales, said, “ By combining our combat-proven 70mm rocket expertise from Belgium with KSSL’s engineering and manufacturing strengths, we are co-creating capabilities that will enhance India’s operational readiness and advance its vision of self-reliance in critical defence technologies.”
Speaking on the collaboration, Neelesh Tungar, CEO, Kalyani Strategic Systems, said: “By combining Thales’ proven technologies with Kalyani Strategic Systems’ advanced industrial ecosystem, including our upcoming energetics facility in Andhra Pradesh, this strategic partnership lays the foundation for indigenous production of next-generation rocket systems.”
Bharat Forge- FN Herstal to develop integrated weapons systems
In a separate press release, the Bharat Forge subsidiary announced its agreement with the FN Browning Group subsidiary, FN Herstal, for scaling up the country’s manufacturing to support its defence requirements.
As part of the collaboration, KSSL and FN Herstal will assess the development of a production center in India through a joint venture agreement, which will cover the latter’s defence solutions for the domestic market.
This will span FN Herstal’s small arms, integrated weapon systems, and counter-unmanned aerial system (C-UAS) solutions.
“ By combining FN Herstal’s globally respected portfolio and decades of experience with KSSL’s engineering excellence and industrial scale, we are creating a strong platform to deliver advanced defence solutions from India – for India and global markets,” said Amit Kalyani, Vice Chairman and Joint Managing Director, Bharat Forge.
Bharat Forge share price
Bharat Forge’s stock ended Thursday’s trading session flat on the stock exchanges. Over the past one month, its share price has declined around 10%, while over the past six months, its stock has delivered a return of nearly 6%.