Amtek Auto said it has formed a joint venture with Israel based Enertec Management to manufacture various electronic solutions for military applications.

Amtek Auto in a filing to the Bombay Stock Exchange said that it has entered into the joint venture with Enertec Management which is the holding company of Enertec Systems 2001 Ltd.

The JV has been formed for developing and manufacturing the advanced electronic systems, test systems, simulators and electronic systems for military applications.

The company, however, did not give details about any financial involvement by both the entities.

The filling added that "The said joint venture agreement, however, is subject to the receipt of all necessary approvals from the Government of India and Ministry of Defense.”

(Sourced from PTI)