The Paramount Group has signed an agreement with India's Ashok Leyland for the development and manufacture of Mine Protected Vehicles (MPVs) in India. The two companies revealed this historic agreement at Delhi's DEFEXPO 2010 with plans to produce the Stallion MPV for the Indian Armed Forces and other Government Internal Security Forces as well as other products in the future.
Paramount has taken an important strategic step in assuring the best available protection of the world's second largest and fastest developing Armed Forces. Ashok Leyland, which is part of the Hinduja Group, is already the largest supplier of utility vehicles to the Indian Armed Forces and this industrial collaboration with Paramount will provide for India's needs to deliver protection to large numbers of troops in potentially hostile environments. South Africa and India are both established and responsible democracies, and two of the world's leading emerging economies. They play an increasingly important role in promoting peace and stability.
Ivor Ichikowitz, Executive Chairman of the Paramount Group said, "Our collaboration with Ashok Leyland is an important step in the closening of ties in the field of defence industrial co operation between India and South Africa.
Paramount Group has several world class technologies which it is able to contribute to this relationship and together the two organizations will become a force to be reckoned with in the global defence and security industry.
Our objective is to be able to offer countries in both the developed and developing world the best available mine and ballistic protection at prices which are affordable to all.
Our intention is to ensure that no government is ever in a position where it is forced to send its troops into hostile environments without the highest levels of protection available."
Source: Paramount
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