Taurus studies joint venture to manufacture weapons in India

SAO PAULO-brazilian arms maker Taurus announced on Monday that it has signed a memorandum of understanding to study the feasibility of a joint venture with an Indian steel group to develop the industrial complex of the country. In fact, the company stated that the objective of the joint venture is to manufacture and sell weapons in the Indian territory, in accordance with the local program "Make in India." From the signing of the MoU, the parties have up to 180 days to complete the creation of the joint venture and the business plan being developed, "says the statement. The agreement, approved by the Board of Directors of the Taurus in February 14, includes a brazilian manufacturer's overall strategy for business restructuring aimed at improving financial and operational indicators, added the company.