The United Arab Emirates’ Tawazun Holding, a wholly owned investment company established by the Offset Program Bureau (OPB), yesterday signed a Memorandum of Understanding (MoU) with Northrop Grumman [NOC] through its Electronic Systems sector to explore the establishment of a collaborative business alliance on various defense programs and requirements.
The MoU was signed by H.E. Saif Mohamed Al Hajeri, CEO of the OPB and Tawazun Holding, and John Johnson, sector vice president and general manager of Northrop Grumman’s Aerospace Systems Division.
“This MoU signifies our mutual interest in exploring ways in which we can collaborate to combine our strengths and consolidate our efforts in identifying opportunities for a sustainable and viable business,” Al Hajeri said. “It is a significant step towards building a long term relationship to help achieve Abu Dhabi’s economic diversification goals and to develop solutions that meet the defense and business requirements of the UAE.”
Johnson said, “We are honored to work with Tawazun to help support its goals to bring technology and expertise to the UAE, create economic diversification and manage the country’s defense industry. Northrop Grumman understands its vision to strengthen and develop the future economy of Abu Dhabi through strategic industry partnerships. I look forward to a long and very successful working relationship.”
Under the MoU, Tawazun and Northrop Grumman will explore the potential feasibility of establishing a collaborative business alliance across a variety of defense related activities with mutual long term interest to both companies.
The MoU covers the exchange of programmatic and planning information, capabilities and expertise to identify synergies and to develop operational concepts.
Tawazun Holding was established by OPB in 2007. It currently focuses on the development and expansion of selected emerging companies across a wide range of industrial and commercial disciplines and seeks to create viable strategic partnerships that will add value to the UAE economy.