EDGE would hold 51 percent of the joint venture, with Leonardo owning 49 percent, and planned activities include design, development, testing, industrialisation, production and through-life support for products in the United Arab Emirates. The venture would also oversee IP licensing, training and workforce development, with products marketed in the UAE and selected export markets.
The portfolio under review covers a range of Leonardo’s systems and platforms across sensors, system integration and other business areas. Hamad Al Marar, Managing Director and CEO of EDGE Group, said, “This latest milestone on the path towards the full establishment of a landmark joint venture between EDGE and Leonardo underscores not only the speed with which we are moving, but highlights what can be achieved when two industry players collaborate on the development of a smart strategy to deliver technological excellence for global security.”
Al Marar added that cooperation across air, land, sea and electro-optics offers scope to shape solutions for both established and emerging markets. He said, “By collaborating across several critical domains including air, land, sea, and electro-optics, we can tailor solutions born from solid experience, expertise, and innovation, through the UAE to existing and new untapped markets.”
Leonardo CEO and General Manager Roberto Cingolani said the progress reflects months of work and a shared recognition of the venture’s value. He said, “This latest milestone, which follows months of intense work between the partners, testifies our mutual understanding of the added value we can create paving the path for an even stronger collaboration.”
Cingolani said joint capabilities in the UAE could produce competitive systems in priority technological fields. He added, “The combination of our capabilities in the UAE, in some premium technology fields we’ve identified for an in-depth evaluation, can deliver highly competitive solutions to the reference market. We look forward to continuing to work towards the next stage of cooperation.”
