Emirati defence conglomerate, EDGE Group, and the Spanish defence systems supplier, Indra, have formed a joint venture to develop advanced military radar systems.
Signed in Madrid, Spain, the agreement will establish a manufacturing facility in Abu Dhabi, opening a pipeline of orders for approximately 300 advanced radar solutions. The new business will be granted prime rights for current and future non-Nato and non-EU orders awarded to Indra.
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EDGE will bring its commercial strength and technology building blocks, while Indra will enhance the new company’s capabilities by transferring technology, and shifting some engineering, commercial, and manufacturing capabilities to the joint venture.
Speaking at the official signing ceremony at the Ministry of Defence in Madrid, EDGE Group managing director & CEO, Hamad Al Marar, stated:
“This new joint venture with one of Europe’s top three defence technology players in this sector will enable EDGE, in partnership with Indra, to significantly expand and diversify the scope of its offerings through knowledge sharing, and the development and manufacture of advanced radar systems to customers around the world.”
José Vicente de los Mozos, CEO of Indra, observed: “The JV between Indra and EDGE Group will be recognised for its capacity for innovation and the use of the most sophisticated technologies. This JV will help us to expand our geographical reach and our international mindset in our Defence business and will increase our proximity to the global clients.
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By GlobalData“We in Indra are convinced that this joint venture will create new significant business opportunities in new markets. This agreement is one more asset of the Industrial and Strategic Plan ‘Leading the Future’, that will be presented on 6th March – a decisive strategic transformation milestone for Indra.”
The joint venture will also focus on building a team of highly-qualified personnel in the United Arab Emirates, particularly in engineering roles, by leveraging local Emirati, as well as global talent.
