Lloyds Engineering Works Limited has announced that its material subsidiary, Lloyds Advance Defence Systems Limited (LADS), has entered into a significant agreement with M/s Alpar Ingegneria S.R.L., Italy. This collaboration focuses on the design, development, and manufacturing of advanced systems and prototypes. Key aspects include the transfer of technology to LADS and establishing licensed manufacturing of the products within India, enhancing LADS’s capabilities and market presence.
Strategic Technology and Manufacturing Agreement Signed
Lloyds Engineering Works Limited has disclosed a material development concerning its subsidiary, Lloyds Advance Defence Systems Limited (LADS). LADS has officially entered into an agreement with the Italian firm, Alpar Ingegneria S.R.L. (ALPAR). This partnership marks a strategic step towards enhancing LADS’s technological capabilities and manufacturing base in India.
Key Objectives of the Agreement
The agreement outlines several crucial objectives designed to foster growth and innovation within the defense sector. Primarily, ALPAR will collaborate with LADS to design, develop, and manufacture product prototypes, which will then be supplied to LADS. A significant component of this partnership is the transfer of technology (TOT) to LADS, equipping the subsidiary with advanced knowledge and processes. Furthermore, the agreement establishes provisions for licensed manufacturing of the products in India, positioning LADS as a key domestic producer of advanced defense systems.
Details of the Collaboration
The disclosed information specifies that Alpar Ingegneria S.R.L. is a company specializing in the design, development, and manufacture of advanced systems. No existing shareholding is noted between the parties, nor are they identified as related parties. The transaction is not considered a related-party transaction and is being conducted at an arms-length basis. The details regarding share issuance, nominees on the board, and potential conflicts of interest or termination clauses are marked as not applicable or not yet disclosed at this stage.
Source: BSE
