Emirates Defence Technology announces joint venture with Etienne Lacroix Group

Dubai, 12th November, 2015 (WAM): Emirates Defence Technology (EDT), the Abu Dhabi based Defence Company, and Lacroix, an Etienne Lacroix Group company that specialises in pyrotechnics and defence solutions, announces the signature of a strategic joint venture. Operating under the name of Emirates Defence Services (EDS), the new joint venture will provide global services and maintenance on Lacroix’s products and a range of defence related services and solutions across the region, while providing a vehicle for Lacroix to fulfil its offset commitments to the UAE. The Joint venture was approved by the Tawazun Economic Council and was enthusiastically endorsed by the CEOs of both EDT and Lacroix. The Tawazun Economic Council overlooks the Tawazun Economic Program, formerly known as the UAE Offset Program, The Program seeks to derive economic and commercial value from the country’s extensive defence procurement program, as part of the UAE’s initiatives to modernise and acquire state-of-the-art defence systems. Mr Matar Ali Al Romaithi, the Chief Officer, Industrial Development Unit of the Tawazun Economic Council, said: "We are pleased with the partnership between EDT and Lacroix. This is another successful collaboration initiated under the Tawazun Economic Program which aims to the creation of strategic and sustainable projects within the country." Mohamed Bin Jabr Al Suwaidi, CEO at Emirates Defence Technology, said: "We have been partners for the past five years and this new joint venture with Lacroix is further testament to our increasing collaboration between both companies. The global resources of both partners of EDS will allow exposure to MRO activities, research and development, design and manufacturing requirements of our long-standing customers". "Defence companies that want to operate in the UAE sometimes face challenges to meet their offset requirements. However, I believe that this joint venture is an example of how local and foreign companies can collaborate to overcome these challenges," he concluded. Jean-Jacques Bares, CEO, Etienne Lacroix Group, said: "Lacroix has been actively seeking to establish a new global service and maintenance division for its products and this new joint venture partnership with EDT has provided the perfect vehicle whereby we can also meet our UAE defence offset requirements". "Lacroix is delighted to extend its relationship with EDT as it further strengthens our close relationship between the companies and also provides a local geographical presence to service our client needs". – Emirates News Agency, WAM - http://www.wam.ae/en/news/economics/1395287875155.html