VisionWave Holdings, Inc. (NASDAQ: VWAV) announced today that C.M. Composite Materials Ltd., together with its wholly-owned subsidiary FBM Composite Materials Ltd., has entered into a Memorandum of Understanding (MOU) with a large industrial manufacturing group headquartered in India to explore the formation of a joint venture manufacturing platform for advanced aerospace and defense composite components.
C.M., headquartered in Modi’in, Israel, specializes in advanced composite structures and manufacturing technologies for aerospace, defense, and high-performance industrial applications.
The Indian industrial partner is a large manufacturing group operating multiple industrial facilities across India and supplying engineered components to global OEMs across automotive, industrial, and aerospace supply chains.
Under the framework contemplated in the MOU, the parties intend to evaluate the creation of a joint venture manufacturing entity in India designed to combine C.M.’s advanced composite engineering and manufacturing capabilities with the Indian partner’s industrial manufacturing infrastructure and supply-chain footprint across India.
WWAV shares gained 39 cents, or 5.4%, to $7.62.
