Based in the UAE, EDGE Group recently bought a 50% share in Brazil’s Siatt. The deal includes a technical partnership with Brazil’s Navy.
EDGE’s CEO, Mansour Al Mulla, visited Brazil to sign several contracts. Top executives from the company joined him.
Founded in 2019, EDGE is a conglomerate that mainly focuses on defense.
Faisal Al Bannai, board chairman, says the move aims to enhance UAE’s international presence.
Siatt is creating a 70-km range anti-ship missile with Brazil’s Navy. Rodrigo Torres, the CFO of EDGE, calls the deal strategically crucial for both nations.
The UAE is the world’s seventh-largest oil producer, offering substantial investment opportunities.
Moreover, its sovereign fund, ADIA, holds a whopping $853 billion in assets.
Siatt began as an engineering group in 1991 and later became Mectron. After some setbacks and changes, the founders launched Siatt in 2015.
They acquired projects like the MSS 1.2 AC anti-tank missile and the in-development Mansup anti-ship missile.
Siatt’s MSS 1.2 AC missile is now ready for mass production. All that’s needed is a production line and supplier logistics investment.
EDGE is expected to influence these future production efforts significantly.
Background with Brazil’s Siatt
This deal marks a new chapter in UAE-Brazil relations. It also boosts Brazil’s standing in the global defense sector.
EDGE’s expertise is likely to benefit Siatt’s missile projects. Moreover, this helps Brazil emerge as a key player in defense technology.
(EDGE Buys 50% of Brazilian Missile Manufacturer Siatt.)
For EDGE, this diversification is a wise strategic choice. The technical partnership will probably encourage technology exchange between the two nations.
Furthermore, the UAE’s ample financial resources offer solid backing. Finally, the acquisition underlines the global nature of today’s defense industry.