Shri Lakshmi Defence Solutions Ltd signs MoU with two foreign firms

Shri Lakshmi Defence Solutions Ltd signs MoU with Ukrainian firm to manufacture over 100 (BTR4) armoured vehicles

Company also signs MoU for manufacturing and sale of Armoured Personnel Carrier (APC)

New Delhi, February 18, 2010 – Shri Lakshmi Defence Solutions Ltd (SLDS), a wholly owned subsidiary company of Shri Lakshmi Cotsyn Ltd, has signed an agreement with "Ukrinmash", a State Foreign Trade and investment firm of Ukraine for manufacturing and marketing of hundred 8x8 and 6x6 APC (Armoured Personnel Carrier) required by Indian Army for the United Nations (U.N.) Mission.

The company has signed another Memorandum of Understanding (MoU) with M/s ADCOM MILITARY INDUSTRIES, ABU DHABI, who are one of the leading military suppliers from the Middle East and South Africa; for supplying and marketing 100 to 300 high tech armoured vehicles in the Middle East and South Africa.

On the technical textile front, Shri Lakshmi Defence Solutions Ltd (SLDS) has signed a MoU / agreement for the manufacturing and sales of their highly specialized MSCN (Multi Spectrum Camouflage Net). SLDS has already received Request for Proposal (RFP) worth Rs. 200 crores and above from the Ministry of Defense (MoD).

Dr. M. P Agarwal, Chairman & Managing Director, Shri Lakshmi Cotsyn Limited said, “It is truly a moment of joy for us. This would be a stepping stone for us to move out of the traditional frontier and make a mark for India at the international level. SLDS wants to play an important role in enhancing the combat efficiency of defense forces around the world. With the signing of the MoU, this inventiveness would bring forth an additional annual turnover of Rs 1000 crore to the company.”

About Shri Lakshmi Cotsyn Ltd

Shri Lakshmi Cotsyn Ltd. is a technology driven integrated multi-product and multi-market player, engaged in manufacturing and processing for high quality standards, end-to -end textile products and safety textiles for paramilitary forces and other defense establishments since 1993. The company’s annual turnover is estimated to Rs. 1500 crore and Net Profit Rs. 95 crore in 2009-10 against Rs.1170 crore annual turnover and Rs. 69.27 crore Net Profit for the accounting year ended June 2009.

The Company has five manufacturing facilities in Fatehpur & Malwan (Uttar Pradesh), Sonepat (Haryana) Roorkee (Uttrakhand) and Noida. Its product range includes bed-linen, terry towel, denim and bottom weights, readymade garments, fusible interlinings, embroidered fabrics and zippers. It services large institutional clients with a range of uniform fabrics, ballistics, 360 degree protected armoured vehicles, fabricated equipments such as sleeping bags and tents and fabrics like haversacks, facelets, and protective clothing and casualty bags.

SLCL is a market leader in fusible interlining with over 35% market shares. Its product range is spread across several product brands such as “STAR TRACK” (Fusible interlining) “SVL” (zippers) “ALISHA” (Embroidery and Lace Fabric) and “GALAXY” (denim trousers, garments and bottom weight fabrics) and now eco-friendly brand “WEAVES” (home furnishing) to health conscious families.