Navi Mumbai. 21 September 2024. Tembo Global Industries Limited is elated to announce a significant strategic partnership with a leading European company to establish a state-of-the-art arms and ammunition manufacturing facility in India. The newly signed Memorandum of Understanding (MoU) marks a pivotal moment for Tembo Global as it expands its footprint into the defense manufacturing sector with the support of a renowned international partner.
The MoU outlines a comprehensive partnership wherein the European company will lend its expertise to assist in the establishment of the new manufacturing plant. The agreement also includes a strategic buy-back arrangement, under which the European partner will purchase a significant portion of the firearms produced by Tembo Global Industries Limited. This move is set to solidify Tembo Global’s position within the defense industry and enhance its operational capabilities.
The Memorandum of Understanding (MoU) features key highlights that emphasize the strategic nature of this partnership. The European company will provide crucial technical expertise and operational support, ensuring that the new manufacturing facility meets the highest standards in arms production. Additionally, the agreement includes a significant buy-back arrangement, wherein the European partner commits to purchasing 100% of the production output from Tembo Global Industries Limited. This arrangement guarantees a stable and reliable market for the firearms produced, reinforcing the commercial viability of the venture.
Sanjay J Patel, Managing Director of Tembo Global Industries Limited, commented on the partnership: “We are excited to embark on this strategic partnership with a renowned European player in the arms and ammunition industry. This collaboration marks a significant milestone for Tembo Global Industries Limited as we venture into the defense manufacturing space. The technical expertise and operational support from our European counterpart will ensure that we meet the highest standards in arms production. We are confident that this will not only expand our business footprint but also contribute to the growth of India’s defense sector.”
