BEL, Astra Microwave sign MoU for JV

Astra Microwave Products Ltd has informed that on February 11, 2009, the Company have signed a Memorandum of Understanding (MOU) with Bharat Electronics Ltd (BEL) to form a joint venture company. According to the terms of the MOU, the joint venture, in which Bharat Electronics Ltd will own 49% equity and Astra Microwave Products Ltd will own 51% equity, will design, develop, prototype, manufacture and market RF and microwave products for use in defense, space and telecommunications. The Company has issued a detailed Press Release dated February 11, 2009 titled "Bharat Electronics, Astra Microwave sign MoU for joint venture".