Paras Defence and Space Technologies has entered into a significant agreement with Bandak Aviation Inc., trading as Northstar, USA. This collaboration aims to supply and support Northstar’s air-to-air refueling systems and accessories for the Indian Armed Forces.
Northstar is renowned for its expertise in the design, development, and manufacturing of aerial refueling products for various airborne platforms. The agreement will see Paras Defence and Northstar working exclusively together to develop and provide facilities and depot-level capabilities to sell and support Northstar products and services to the Indian Air Force.
The agreement is set for a duration of ten years, during which both companies will collaborate exclusively. Paras Defence holds no shareholding in Northstar or its group companies, and the transaction does not fall within related party transactions.
This partnership marks a strategic move for Paras Defence as it strengthens its position in the defence sector by enhancing its product offerings and capabilities in collaboration with a leading international company.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).