Bharat Electronics scouting for jt ventures

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Bangalore, June 28

Bharat Electronics Ltd , armed with its new navaratna status, will now actively pursue acquisitions and joint ventures with domestic and foreign partners, according to its CMD, Mr V.V.R. Sastry.

The defence PSU hopes to finalise its first acquisition, in the range of Rs 50-100 crore, "in the next nine months," Mr Sastry told Business Line.

Joint Development

"We are looking at acquisitions. Our target is good technology companies in related areas (to BEL's business). These could be small and medium companies abroad who would be willing to adopt joint development," Mr Sastry told.

Secure communication being a core activity, BEL's priority would be for the latest technology in radars and sonars electro-optics, electronic warfare, microwave components and systems. It has a good cash reserve and the limitation, he said, would be what technology companies would be willing to share with India.

The company which closed 2006-07 with a turnover of Rs 4,000 crore is also looking at collaborations and co-development and co-manufacturing at its facilities. It already is in three joint ventures - the thriving GE BE P Ltd that makes X-ray tubes; the rather defunct BE Multitone; and the BEL Optronic Devices Ltd in which BEL has 93 per cent stake.

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