Bharat Forge Limited, the flagship company, of the Kalyani Group, and Elbit Systems Land and C4I Ltd., a wholly owned subsidiary of Elbit Systems Ltd., ( NASDAQ and TASE:ESLT ) today announced a strategic co - operation in India through the establishment of a new Joint Venture Company (JVC), to address the Indian Ministry of Defence and other potential Indian government customers’ requirements for the most advanced artillery and mortars systems solutions.

Subject to requisite government and regulatory approvals, the JVC will offer solutions in the Artillery Guns & Mortars segment based on Elbit Systems’ cutting edge technologically advanced products opera tionally used worldwide, such as the ATHOS 155/52 Towed Gun System , the ATMOS 155/52 Mounted Gun System and the upgraded 130 mm M46 Gun to a 155/45 Gun (KARAN) . The JVC will also role out a range of futuristic products like the Advanced Indian Gun System. The JVC will bring together Elbit Systems’ cutting edge technology and system integration capabilities and Bharat Forge’s advanced capabilities in the areas of design, engineering, manufacturing, testing and validation.

“The Strategic Cooperation between Elbit Systems and Bharat Forge and specifically the JVC will address Indian defence requirements with operationally proven systems from Elbit Systems that have been customized and adapted for Indian conditions and manufactured at the World class manufacturing facility for end - to – end solutions for artillery systems and arm oured vehicles upgrades established by Bharat Forge recently in India,” said Mr. Baba Kalyani, Chairman and Managing Director of Bharat Forge Limited.

Mr. Bezhalel (Butzi) Machlis, Elbit Systems’ Executive Vice President – President and CEO Designee, and formerly General Manager of Elbit Systems Land and C4I Division, noted: “We are proud to combine Bharat Forge’s systems integration and manufacturing expertise with Elbit Systems’ proven technology. We believe that offering innovative solutions, based on our combined vast operational experience and technological capabilities will position the JVC as a leading supplier to the Indian Ministry of Defence and other potential Indian government customers".