Integrated platform to bolster United Arab Emirates’ long-term industry growth
Mubadala Development Company and Tawazun Holding announced today the launch of the Emirates Defence Industries Company (EDIC), an integrated national defence services and manufacturing platform.
EDIC’s Board is chaired by H.E. Homaid Al Shemmari with H.E. Saif al Hajeri, Major General Saif Mosbeh Abdullah Al-Masafri and Major General Pilot Fares Khalaf Khalfan Al-Mazrouei as Board Members. Luc Vigneron is the Chief Executive Officer.
EDIC will comprise eleven companies from the subsidiaries of Mubadala Development Company, Tawazun Holding and Emirates Advanced Investment Group (EAIG) at the conclusion of the first phase of integration, with a formal transfer of ownership occurring progressively from January 2015.
“The outcome from this process will be an integrated defence platform benefiting from improved alignment, performance and increased capacity, which is better positioned to serve the UAE Armed Forces and compete for business in the region,” said H.E. Homaid Al Shemmari, Board Chairman of EDIC.
“EDIC creates significant opportunities for industry growth, and we remain committed to our companies, customers and partners in realising this opportunity,” added Al Shemmari.
Companies identified for integration during the first phase are Al Taif Technical Services, Bayanat for Mapping and Surveying Services, and Horizon International Flight Academy from Mubadala; NIMR Automotive, Tawazun Dynamics and Tawazun Precision Industries from Tawazun; and C4 Advanced Solutions, Global Aerospace Logistics, Naval Advanced Solutions, Secure Communications and Thales Advanced Solutions from EAIG.
Several more industrial services subsidiaries of Mubadala and Tawazun are being considered for integration during a second phase, which will begin early in 2015.