Premier Explosives and Global Munition Forge JV to Boost Defence and Aerospace Production

16 Dec 2024 , 04:07 PM

Premier Explosives Ltd on December 13 entered a Memorandum of Understanding with Global Munition Ltd a subsidiary of NIBE Ordnance and Maritime Ltd under which an agreement has been reached with the aim to set up a joint venture firm focused on producing Defence and Aerospace products furthering India’s self-reliance in the key sectors.

In the joint venture, Global Munition Ltd will hold 51% equity share, while Premier Explosives Ltd will have 49%. It will be an extremely strong strategic partnership. This collaboration is to bring together the best of both the companies to develop the leading-edge products for Defence and Aerospace applications.

Premier Explosives Ltd is the first private explosives manufacturer in India, with a legacy of innovation and significant contributions to national defence. The company provides extensive ranges of explosives in emulsion and slurry explosives, LD cartridge explosives, bulk explosives, and permitted and non-permitted explosives.

Premier Explosives produces niche items such as cast boosters and pillow packs for secondary blasting applications. The company is an approved supplier of solid propellants to missile programs of India: Akash, Astra, and LRSAM for strategic defense projects.

In alliance with the government’s mission, “Make in India”, the company is assured domestic production of high-order Defence and Aerospace components. Technically amalgamating Premier Explosives Ltd. and Global Munition Ltd, the two will enormously contribute to India’s defense capabilities and promote growth of the Aerospace sector.