BEL May Acquire Stake in Astra Microwave
Bharat Electronics Ltd, is in talks to invest in Astra Microwave Products Ltd. BEL is AMPL's largest customer and accounted for 30% of AMPL’s revenue for FY2010.
BEL has been giving out vendor contracts to AMPL to service BEL’s customers locally and execute offset orders for overseas firms.
In February 2009, BEL and Astra Microwave had signed a pact to set up a JV to execute microwave intensive work.
Astra Microwave spokesman Gurunatha Reddy confirmed the investments talks with BEL.
Transaction Reference: Mint
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