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TTI, Radiant Sign India Supply Deal

FORT WORTH, Texas — TTI, Inc. a global distributor of interconnect, passive, electromechanical and discrete components, today announced entering into an agreement with Radiant Corporation to supply interconnects, electromechanical, and passive (IP&E) components for Radiant’s cable assembly operations in India.

Radiant Corporation, located in Hyderabad, India, is a company with experience of more than two decades in the manufacture of defense related specialty cables. Radiant is approved by the Indian Government for all Defense Supplies and holds a Defense Industrial license. Any procurement from Radiant is eligible for the discharge of “offset obligations.”

Within the Indian Navy, Radiant is the only approved supplier of “pressure tight cables.” Radiant’s in-house research and development is recognized by the Government of India – Radiant has won the prestigious National Awards for Research and Development and Quality. The company has also received formal approval from the Government of India to build its own Special Economic Zone spread over 25 acres.

Radiant manufactures its own requirements of composite cables and recently entered into the field of aviation grade cable looms and wiring harnesses with a view to participating in the growing offset business generated as a result of aircraft supply contracts to the Indian Armed Forces. One of the company's subsidiaries, RCDT, specializes in mathematical modeling, design and development of simulators for training on equipment operation and war gaming, UAV Systems and embedded software.

For the purpose of discharging offset obligations program, Radiant has signed MOUs with large defense companies including: Israeli Aerospace Industries for UAVs and helicopters, Agusta Westland for helicopters, Labinal for MMRCA, DIEHL Defense Holding GmbH for MMRCA, SAFRAN for MMRCA, Sagem for artillery and missiles, Kangnam Corporation for MCMV, and Howaldtswerke-Deutsche Werft GmbH for submarines.

As per the Indian Government Defense Offset Policy, for all capital acquisition exceeding USD 70 million there is a minimum 30 percent offset obligation. Offset obligation business is estimated to be around USD 10 billion over the next five years. TTI believes that the Indian Government Defense Offset Policy is promising and provides huge business potential.

Per TTI, Inc. CEO, Paul Andrews, “The cooperation and supply agreement with Radiant will open new avenues of services to our mutual customers.”

{complink 12888|TTI Inc.}

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