NEWS

Lockheed Martin prods 3 tech tie-ups
Business Line, August 24, 2007

Aerospace major Lockheed Martin has said its entrepreneur promotion programme has resulted in three Indian enterprises striking commercial partnerships.

Its two-year India Innovation Growth Programme picks Indian innovations for commercialisation globally through partnerships. The company, on Thursday, also launched the second year of its programme in collaboration with FICCI and IC2 Institute, University of Texas at Austin.

Maharashtra State Seeds Corporation Ltd will license to Cottor Plants (India) Pvt Ltd its pollution-free cotton seed delinting technology. Cottor will support it in international manufacturing, marketing and distribution.

Sustainable Technologies & Environmental Project Ltd has signed an agreement with K.M. Sugar Mills (India) to supply caged catalyst conversion systems. Sugar mill waste will be converted to petroleum if the tests being conducted at the Indian Institute of Petroleum succeed.

Zeus Numerix Pvt Ltd has signed a world-wide marketing and distribution agreement with Adroitec Information Systems for its full line of numerical simulation software products.

Dr Ray O. Johnson, Lockheed Martin's Senior Vice-President and Chief Technology Officer, said the company expected more such business deals very soon.

DEFENCE ORDER

Lockheed Martin expects to firm up at least one military order from the country in six months, this one for the IAF's six cargo planes. It may come with an optional order for six more aircraft, according to Lockheed Martin Director for Business Ventures, Mr Phillip Georgariou.

Discussions are on and Lockheed's delivery may take 24-36 months from receiving the formal order.