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Premier Explosives and Global Munition sign MoU to form a joint venture for the Defence and Aerospace sector.

MOUs and Agreement | Dated: 26 Dec 2024

In December 2024, Premier Explosives Limited (PEL) from Secunderabad, Telangana, signed a Memorandum of Understanding (MoU) with Global Munition India Limited (MIL), based in Pune, Maharashtra. MIL is a unit of NIBE Ordnance and Maritime Ltd. (NIBEOM). The MoU aims to establish a joint venture (JV) for the manufacturing of defence and aerospace products.

🎯 Key Highlights:

  • - The joint venture will be structured with a 51:49 equity split, where Global Munition Ltd. will hold the majority stake. This strategic move is anticipated to strengthen Premier Explosives' position in the market.

💡 Other Important Facts:

  • (i) The joint venture will feature a 51:49 equity split, with Global Munition Ltd. holding the majority stake. This partnership is anticipated to strengthen Premier Explosives' market presence.
  • (ii) PEL, India’s first private-sector explosives manufacturer, supplies solid propellants for key missile programs such as Akash, Astra, and the Long-Range Surface-to-Air Missile (LRSAM).
  • (iii) The company also supports the Indian Space Research Organisation (ISRO) by providing solid propellants for satellite launch vehicles.

📚 Test Your Knowledge:

Which company partnered recently with Global Munition to form a joint venture for the Defence and Aerospace sector in December 2024?

Correct Answer: Premier Explosives

🚀 Quick Recap: