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2024-04-04
EDGE, Indra Forge JV to Build Radars, Target New Markets
EDGE Group has officially entered into a new Joint Venture (JV) agreement with Indra Sistemas, a prominent information technology and defence systems company based in Spain.
This collaborative effort is set to focus on the development and manufacturing of next-generation radar systems within the UAE.
Indra boasts a global presence in over 140 countries and is a key participant in major European initiatives, including the Eurofighter and the Future Combat Air System (FCAS).
This tie-up signifies a strategic partnership between the two entities, with potential implications for advancements in technology and defence on a global scale.
The agreement in Madrid, between EDGE Managing Director & CEO, Hamad Al Marar, and Indra’s CEO, Jose Vicente de los Mozos, solidifies the establishment of a new Abu Dhabi-based JV.
Anticipating a substantial demand, the JV aims to secure orders for around 300 advanced radar solutions. Notably, the new venture will hold exclusive rights for present and future non-NATO and non-European Union (EU) orders assigned to Indra.
Tangible Benefits
Faisal Al Bannai, Chairman of EDGE Group, said: “We see tremendous value in building relationships which will spur growth and bring tangible benefits to all parties. Our new joint venture with Indra, as a global market leader in the field of advanced radar technologies, will enable us to combine the strengths of both companies to create an entity which will become a major industry-player in this sector. We are confident that this strategic partnership will prove to be a highly successful one.”
Marc Murtra, Chairman of Indra, stated: “This agreement between the two companies can create one of the world’s leading players in the field of radar technology and is a step forward in Indra’s international expansion strategy. With strategic initiatives such as this, we are making decisive steps in key vectors of our Strategic vision 2024-2026: technological leadership, international growth and partnerships building.”
The agreement will place a strategic emphasis on the sustained development of sophisticated technologies, innovation, and global market expansion by targeting untapped and fragmented non-NATO markets outside of the European Union.
EDGE will contribute its commercial prowess and technological foundations, complemented by Indra’s infusion of technology, as well as the relocation of certain engineering, commercial, and manufacturing capabilities to fortify the operational capacities of the new joint venture.
Knowledge Sharing
During the official signing ceremony at the Ministry of Defence in Madrid, EDGE Group Managing Director & CEO, Hamad Al Marar, expressed, “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.”
He added: “In line with our strategy for growth through mutually beneficial partnerships, we are fully committed to this venture, which will be built on both companies’ existing reputation for excellence, and which will enable us to combine our strengths to drive innovation, develop sovereign capabilities, and expand market reach, while contributing to the technological advancement and economic growth of the UAE, and Spain.”
José Vicente de los Mozos, CEO of Indra, commented: “The JV between Indra and EDGE Group will be recognised for its capacity for innovation and the use of the most sophisticated technologies. It 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.
We are convinced that this JV 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 March 6 — a decisive strategic transformation milestone for Indra.”
We are convinced that this JV 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 March 6 — a decisive strategic transformation milestone for Indra.”
Additionally, the JV will prioritise the establishment of a skilled team in the UAE. This initiative will concentrate on recruiting highly qualified individuals, with an emphasis on sales and engineering roles. By tapping into both local Emirati talent and global expertise, it aims to create a diverse workforce, ensuring sustainable operational excellence and fostering innovation.
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