Paras and Krasny team up in India

Paras Defence and Space Technologies announced on 18 October that it is forming an MRO company with fellow Indian firm Krasny Defence Technologies to service various types of military equipment.

Paras Defence designs, develops, manufactures and tests a wide range of defence and space engineering products and solutions, primarily for the Indian MoD and armed forces. It specialises in defence and space optics, defence electronics, electromagnetic pulse protection solutions and heavy engineering.

The company (which recently launched an initial public offering to raise about $22.7 million) is the sole Indian supplier of critical imaging components such as large-size optics and diffractive gratings for space applications in India.

Krasny Defence Technologies is prominent in defence equipment maintenance, including refits for Indian Navy and Indian Coast Guard vessels.

‘The proposed associate company shall be engaged in the field of maintenance, servicing and repairs of defence equipment and naval vessels,’ Paras Defence announced in a stock exchange filing.