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Indian purchase of Israeli defence contractor

Indian conglomerate Lohia Group said on Tuesday it acquired Israel’s Light & Strong Ltd, a maker of carbon fiber and glass fiber composite components for the aerospace and defense sector.

Financial details were not disclosed

The acquisition will allow Lohia, which is headquartered in Kanpur, India, to combine its engineering experience with new technologies to deliver high-quality products to its customers, Lohia said in a statement.

With the support of its operations in India, Lohia will seek to make Israel a key export hub to American and European markets.

“We believe this marks the beginning of our growth in this sector on a global scale,” Lohia director Anurag Lohia said. “We will continue to look at other synergistic opportunities in this space toward our aim to be a key participant in the global defense and aerospace domain.”

Source: Reuters

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