LE BOURGET, France, June 16, 2015 /PRNewswire/ --
Mahindra Defense Systems, a Mahindra Group company, and Telephonics Corporation, A Griffon Company (NYSE:GFF), announce that their Joint Venture in India, Mahindra Telephonics Integrated Systems (MTIS) initiated the manufacture of the RDR Series of Airborne Weather Radars at their Prithla facility near Delhi. This is the first airborne radar manufactured in the private sector in India.
MTIS was incorporated in April 2013 to leverage the prestigious brand name in India of Mahindra and Mahindra with the globally recognized world class aerospace and defense technology from Telephonics Corporation. Initial transfer of technology was for the manufacture of transducers used for both commercial and aerospace applications. Over 16,000 have been produced since December 2013. MTIS manufactured the first airborne weather radar assembly in March 2015.
With the capability to manufacture airborne radars, MTIS has positioned itself to support the" Made In India" mandate for the India Aerospace and Defense Sector. Compared to other Indian industrial groups in the Aerospace and Defense arena, Mahindra Group has established a clear lead.
"MTIS continues to make significant progress in its charter to build an indigenous capability to support aerospace and defense programs leveraging the advanced technologies offered by our partner Telephonics," said Mr. SP Shukla, Member of the Group Executive Board of Mahindra & Mahindra Limited and Group President, Aerospace and Defence.
"Manufacturing of our RDR airborne weather radar is a key milestone. We are pleased with both the progress MTIS has made and with the support of our joint venture partner, Mahindra and Mahindra." expressed Mr. Joseph Battaglia, President and CEO of Telephonics.
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra employs more than 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world's largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times 'Boldness in Business' Award in the 'Emerging Markets' category in 2013.
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Telephonics' high-technology engineering and manufacturing capabilities provide integrated information, communication and sensor system solutions to military and commercial markets worldwide. Telephonics specializes in aircraft intercommunication systems, wireless communication systems, radars, identification friend or foe products, integrated security systems, air traffic management systems, aerospace electronics, and the performance of threat and radar system analyses.
About Griffon Corporation
Griffon Corporation, headquartered in New York, N.Y., is a diversified management and holding company that conducts business through wholly-owned subsidiaries. The Company oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. The Company provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital to further diversify itself.
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