Indra and EDGE Group sign agreement to manufacture radars in the UAE
EDGE Group has entered into a new Joint Venture (JV) agreement with Indra, a leading global defence and technology company. The agreement, signed in Madrid by EDGE Managing Director and CEO Hamad al-Marar and Indra CEO José Vicente de los Mozos, will create a new Abu Dhabi-based Joint Venture (JV) that will develop and produce next-generation radar systems in the United Arab Emirates (UAE), opening up an order book of approximately 300 advanced radar solutions. The new business will have pre-emptive rights to current and future non-NATO and non-EU orders awarded to Indra.
H.E. Faisal al-Bannai, Chairman of EDGE, said: "We find tremendous value in building relationships that stimulate growth and deliver tangible benefits to all parties. Our new Joint Venture with Indra, as a global market leader in the field of advanced radar technologies, will allow us to combine the strengths of both companies to create an entity that will become a major player in this sector. We are convinced that this strategic partnership will be a great success".
Mar Murtra, Chairman of Indra, said: "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 towards Indra's international expansion strategy. With strategic initiatives like this, we are taking decisive steps in key vectors of our 2024-2026 strategic vision: technology leadership, international growth and alliance building".
Major technology and expansion agreement
The JV will strategically focus on the continued development of sophisticated technologies, innovation and global market expansion, targeting untapped and fragmented non-NATO and non-EU markets. EDGE will contribute its commercial strength and technology components, while Indra will enhance the capabilities of the new company through technology transfer and the transfer of some engineering, commercial and manufacturing capabilities to the joint venture.
During the signing ceremony, held at the Ministry of Defence, EDGE Group Managing Director and CEO Hamad al-Marar said: "This new Joint Venture with one of Europe's top three defence technology players will enable EDGE, in collaboration with Indra, to significantly expand and diversify the scope of its solutions offering through knowledge sharing and the development and manufacturing of advanced radar systems for customers around the world".
"In line with our strategy to grow through win-win agreements, we are fully committed to this Joint Venture, which will build on the excellence and reputation of both companies and enable us to drive innovation, develop sovereign capabilities and expand the market to contribute to the technological transformation and economic growth of the UAE and Spain," added Al-Marar.
José Vicente de los Mozos, CEO of Indra, said: "The Joint Venture created between Indra and EDGE Group will be recognised for its innovative capabilities and use of the most sophisticated technologies. This agreement will help us expand our geographic presence and international mindset in the defence business and increase our proximity to global customers. At Indra, we are convinced that this JV will create significant business opportunities in new markets. The agreement is of crucial importance within the Industrial and Strategic Plan 'Leading the Future' to be presented on 6 March, a decisive milestone for Indra's transformation".
The Joint Venture will also focus on building a team of highly skilled professionals in the UAE, especially in the commercial and engineering fields, fostering both Emirati and global talent and ensuring sustainable operational excellence and innovative production.
