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CSM - BEML Sign Strategic MoU

Posted on March, Monday 09, 2009 By TIVN Network

CSM - BEML Sign Strategic MoU To Target Aerospace Offset Market Globally...

CSM Software Pvt Ltd and BEML Limited, a Mini-Ratna Category-1 Public Sector Undertaking under the Ministry of Defence, Govt. of India, announced the signing of a strategic MoU during the AeroIndia show 2009. The objective of this MoU is to a establish a framework for the execution of the engineering services orders likely to be received by BEML through CSMs sales and marketing efforts, under the defence off

CSM Software Pvt Ltd and BEML Limited, a Mini-Ratna Category-1 Public Sector Undertaking under the Ministry of Defence, Govt. of India, announced the signing of a strategic MoU during the AeroIndia show 2009. The objective of this MoU is to a establish a framework for the execution of the engineering services orders likely to be received by BEML through CSMs sales and marketing efforts, under the defence offset clause, and to ensure total customer satisfaction.

The Indian offset policy states that, for any Indian defense contract worth Rs. 3000 million or more there will be an offset liability to the extent of 30 to 50 % of the order value. The size of this offset market is estimated to be around USD 12 Billion over the next 5 7 years. BEML, as a Defence PSU, is eligible to receive these orders against this Offset Policy and this represents a huge market opportunity to this partnership. CSM Software, with its strong foothold in the global engineering services domain and with it

s existing customer base in the aerospace market will use this framework to expand its current relationships to help its customers fulfill their offset obligations.

CSM was one of the earliest companies in India to recognize the potential of Engineering Services outsourcing in the offshore context. The MoU signed with BEML provides an excellent framework that allows our customers to fulfill their offset obligations by giving them technical excellence, scale and a track record of decades of technical leadership in the Aerospace Domain said Dr. R. Swami Narayanaswami, Founder Chairman and Managing Director, CSM Software.

V RS Natarajan, Chairman&Managing Director, BEML Limited, added: We are extremely pleased with our agreement with CSM Software and the compelling value we can deliver together to our customers including defence offset business. With BEMLs status and scale, and the exciting prospects that CSMs background and relationships bring to the table, we are look

ing forward to the growth of this partnership and business rapidly.

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