Feb. 13 (UPI) -- MBDA Missile Systems and Larsen & Toubro will launch a joint venture to develop missile-based solutions for India's armed forces.
The new company will be named L&T MBDA Missile Systems Ltd, and will be based in India. L&T will own 51 percent of the joint venture's shares, while MBDA will own the remaining 49 percent in accordance with the country's regulations.