Mumbai: TATA Technologies Limited today announced the signing of a Memorandum of Understanding (MoU) with Daewoo Information Systems (DIS). 

The objective of the new alliance is to enhance competitiveness and broaden business opportunities in the Korean and Indian manufacturing sectors.  

Under the terms of the MoU, DIS and Tata Technologies’ operating company INCAT will look for opportunities to combine their respective and complementary expertise and skills to help grow and sustain business in the areas of IT, ITES (IT enabled Services), Engineering & Design and Embedded Electronics in the automotive, aerospace and shipbuilding business domains, primarily in Korea and India. 

 “Our two companies each have substantial experience and strong customer relationships in our respective countries. As more Korean firms open operations in India, and Indian companies do the same in Korea, there is an exciting opportunity for us to leverage these relationships and provide customers with significant added value across borders,” said Patrick McGoldrick, CEO of Tata Technologies. 

DIS Chairman and CEO Sung-Leep Jung said, “Both parties have an excellent understanding of the automotive domain by virtue of long association with automotive industries. This MOU will provide a broad framework for collaboration to ensure competitive strength in the global market.”

 “We are expecting that INCAT, as our local IT service partner, will position us favorably in India and other overseas markets.  We will optimise INCAT’s solutions and manpower in implementing projects with domestic automotive and shipbuilding companies.” “Combining INCAT’s profound understanding of the aerospace domain and DIS’ long experience of the shipbuilding domain will enable us to deliver quality IT service to automotive, aerospace and shipbuilding customers around the world,” he added.

Source : Agencies