Subscribe Free
in Defence

IDEX: Paramount expands Mid East reach with new Israel venture

Posted 22 February 2021 · Add Comment

ADGM, the UAE-based parent company of the South African global aerospace and technology group of companies, Paramount Group announced the establishment of new offices in Tel Aviv, Israel at the IDEX show today.

The office opening comes in support of the recent signing of the historic Abraham Accords for a normalisation of trade and relations between Israel and the UAE..
In a move designed to strategically expand the company’s international footprint, Paramount Group customers and partners located in the Middle East and the wider European Markets, will benefit from a direct and on-site point of contact through Paramount’s new Israeli branch office, based in Tel Aviv’s Central Business District.
Paramount has been working in the Middle East for more than 20 years. The company opened its first office in the region in Abu Dhabi and is involved in multiple projects in the UAE and neighbouring countries. Its latest Mbombe 4 combat vehicle has been acquired by the UAE during 2019. In the same year, Paramount signed a high-level defence collaboration agreement with Saudi Arabian Military Industries (SAMI). Long-term relations with other countries in the region include Jordan, Oman and Bahrain.
Clifford Dewell, Senior Vice President of Paramount Group, stated that, “We are very pleased to strengthen our presence across the Middle East. This comes at a historic moment as the geopolitical landscape is shifting. The region has begun to speak with one voice. Countries share similar challenges to security and have a common interest in stability. We see similarly, unique opportunities to address those challenges while bolstering those nations’ indigenous aerospace and defence industries alongside our partners, serving as a proponent of their economic growth.”
According to the UAE-Israel Business Council the new era of trade between UAE and Israel is forecasted to reach $4 billion in three years. With the removal of trading restrictions manifested by the Abraham Accords, business connections will be formed, joint ventures will be created and economic cooperation will be fostered. A $3bn fund, the Abraham fund, was established jointly by UAE, US and Israel in order to stimulate private sector-led investments across the two nations by enabling infrastructure projects, bolstering regional trade and increasing energy security.
Dewell added: “While no two countries have ever shared exactly similar operational requirements, we at Paramount pride ourselves on developing customised solutions to meet operational requirements. Our industry is serving as an incubator for some of the most important technologies and breakthroughs that have impacted society over the last century”.
Paramount Group is committed to building indigenous capability and providing economically sustainable defence solutions to regional defence organisations. Its technologies address the need for combating evolving asymmetric conflict due to its experience in the African market.
"For the last 27-years, we have experienced asymmetric conflict in Africa, which presents several challenges for regional armed forces. Our technologies are designed specifically to combat these evolving threats. This experience has equipped us with battle-proven technologies that are seeing an increasing demand in the Middle East. Any country that invests in these technologies will be investing in creating and nurturing a culture of innovation,” Dewell concluded.
 

Clifford Dewell,pleased to strengthen Middle East presence. (IMAGE: Paramount Group)

Other Stories
Advertisement
Latest News

Emirates' Economy Class customers can purchase up to three empty adjoining seats

Emirates' Economy Class customers can now purchase up to three empty adjoining seats on their flight.

Rolls-Royce completes taxiing of its ‘Spirit of Innovation’ aircraft

Rolls-Royce has completed the taxiing of its ‘Spirit of Innovation’ aircraft, the latest milestone on its journey to becoming the world’s fastest all-electric plane.

Wizz Air Abu Dhabi launches automated refund process

Wizz Air Abu Dhabi has launched an automated refund process that handles cash conversion refund requests within just one week, offering travellers an easy way to manage their bookings.

Abu Dhabi supports international COVID-19 testing efforts

The Department of Health – Abu Dhabi (DoH), the regulator of Abu Dhabi’s healthcare sector, has announced that the emirate is supporting international testing efforts by offering laboratory testing for COVID-19 samples from outside

Spatial grows its production capacity with latest expansion

Spatial, a specialist in aviation training equipment, has recently announced its relocation to a bigger facility in RAKEZ.

Bombardier Challenger 350 jet most delivered in 2020

Bombardier has said its best-selling Challenger 350 aircraft was the most-delivered medium category business jet in 2020, making it the category leader for a seventh consecutive year.

WDS SK2601090322
See us at
Aviation MENA 2021DAS21_BTWorld Defence Show 2022Arab Aviation Summit BT1002230321Aviation Africa 2021 BTNN