Paramount Group, SAMI Sign Collaboration Agreement

Saudi Arabian defence conglomerate Saudi Arabian Military Industries (SAMI) announced on 3 July that it had signed a collaboration agreement with South Africa's Paramount Group. According to the Saudi Press Agency (SPA), the two organisations will work on "the development of technologies and capabilities across the land, sea, and air domains, as...

Saudi Arabian defence conglomerate Saudi Arabian Military Industries (SAMI) announced on 3 July that it had signed a collaboration agreement with South Africa's Paramount Group.

According to the Saudi Press Agency (SPA), the two organisations will work on "the development of technologies and capabilities across the land, sea, and air domains, as well as system integration".

SAMI CEO Andreas Schwer said in the statement released to SPA that "Paramount Group has an established track record of working in partnership with customer countries, helping to create local defence industrial capabilities through technology and skills transfer. We believe there are many synergies between our companies that can be leveraged to build the defence industrial capability that Saudi requires."

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Source: www.janes.com