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UAE Freezones Biz News Updates
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Mubadala, Tawazun and EAI to explore joint defence opportunities
 Mubadala
Tawazun and Emirates Advanced Investments signing an MoU at ISNR-LR
Mubadala Development Company, Tawazun Holding and Emirates Advanced
Investments (EAI) have signed a memorandum of understanding (MoU) expressing
their intent to explore the synergy opportunities that could be created by
the unification of their defence services businesses.
The MoU, signed at the International Exhibition for Security and National
Resilience (ISNR) in Abu Dhabi, will form the basis of discussions regarding
the creation of a single integrated Abu Dhabi-based defence services
platform.
The parties said that benefits that could be realised from the creation of
an integrated platform including economies of scale, supply chain
rationalisation and a single point of contact for customers. The creation of
an integrated platform would also help to accelerate the development of
technological capabilities and drive additional employment opportunities for
UAE citizens.
Homaid Al Shemmari, CEO, aerospace and engineering services at Mubadala
Development Company, said: “Tawazun, Mubadala and Emirates Advanced
Investments currently manage a range of complementary defence services
businesses. There is a clear opportunity to combine our related assets to
the benefit of the UAE’s wider defence sector as well as our local and
international customers. We believe an integrated defence services platform
can drive both technological advancement and job creation”
H.E. Saif Mohamed Al Hajeri, CEO, Tawazun Holding, added: “Unifying the
capabilities of Tawazun, Mubadala and Emirates Advanced Investment Group
presents an opportunity to further catalyse the growth of these businesses.
All the parties involved stand to benefit from a successful outcome of these
discussions.”
Obeid Al Mansouri, CEO, Emirates Advanced Investments Group, said: “We
believe that consolidation of the businesses will deliver benefits to all
stakeholders. Each of the businesses has already delivered impressive growth
and their unified potential is even greater. These discussions are a clear
indication of the potential that will be created by the combined growth of
our businesses.”
4 April 2014
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Courtesy Arabian Aerospace
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