Saab and TCS sign Letter of Intent in India
Saab and Tata Consultancy Services Limited (TCS) have signed a letter of intent regarding establishment of an Aeronautical Design and Development Centre (ADDC) in India.
The vision for the centre is to serve the global aeronautical market. The centre will create design and development capabilities within India for both military and civil aeronautical applications. This would be a long term relationship with Saab undertaking to transfer technology and competencies in the aerospace sector. The design and development centre will address market opportunities in areas such as aero structures, aero systems, avionics and after market support.
This co-operation will also allow Saab to set a footprint in India together with TCS to capture the opportunities emerging in the aerospace and defence sector.
“This co-operation is not limited to any specific product but is aimed towards building a joint capability to leverage collective strengths across the globe,” says Saab CEO Åke Svensson.
“This partnership has a strong blend of Saab’s technology solutions and TCS global engineering model to address the growing opportunities in the aerospace and defence sector.” says Mr. S Ramadorai, Chief Executive Officer and Managing Director, TCS.
Tata Industrial Services Limited (TISL), which oversees and monitors contracts, was instrumental in forging this co-operation. Ms.Uma Pillai, Managing Director of TISL, says “the formation of ADDC is the first step in harnessing the potential of two global organizations in the aerospace and defence sector. “
Saab views India as an important, fast growing key market with a procurement plan that fits well into Saabs portfolio. Saab believes in local participation and has a business model with a built-in mindset of co-operation with local industries and transfer of technology. Saab has offered Gripen as one of the contenders in India’s MMRCA (Medium Multi-Role Combat Aircraft) procurement process.
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 116,000 of the world's best trained IT consultants in 50 countries. The company generated consolidated revenues of US $5.7 billion for fiscal year ended 31 March 2008 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit www.tcs.com.
About Tata Industrial Services Limited
Tata Industrial Services Limited, a TATA enterprise, identifies competent manufacturing sources; oversees and monitors contracts; undertakes project management related to domestic and global supply needs including offset requirements for major aerospace, civil and defence suppliers.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers’ changing needs.
For further information, please contact:
Saab Press Centre
Telephone: +46 (0)734 180 018
Jan Widerström, Vice President, Saab International, India
Telephone: +46 734 182 461, +9991 109 92 640
The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on 10 September at 10.30.