QinetiQ and Paramount Group, Africa’s largest privately-owned defence and aerospace business, have signed a memorandum of collaboration to identify areas of mutual interest by sharing opportunity, design, technology and global market intelligence.
The agreement, signed during the biennial Farnborough Air Show, will allow QinetiQ and Paramount Group to consider each other as preferred suppliers for specific projects. The two companies have already identified opportunities across land, sea and air platforms for the joint development of new technologies as well as the enhancement and modernisation of existing capabilities.
Both Paramount Group and QinetiQ are leading providers of international defence and security technologies and services. The agreement is expected to facilitate collaboration on a number of areas including rotary and fixed wing upgrades, mission systems enhancements, aero structures, unmanned systems (QinetiQ’s is Europe’s largest commercial operator of this technology) and leveraging synergies in the maritime and naval environment.
“By working together, QinetiQ and Paramount Group will be able to provide our existing and prospective customers the very best defence and security solutions,” said Steve Wadey, CEO of QinetiQ. “We look forward to working with the Paramount team and enhancing both our capabilities as leaders in technology and innovation.”
"Forging partnerships with fellow industry leaders and international governments is a hallmark of Paramount Group. We’re excited to continue collaborating with QinetiQ and bolster our advanced technology and service capabilities for our clients through technology insertion into our land, sea and air platforms,” said Ivor Ichikowitz, Paramount Group Founder and Executive Chairman.
About Paramount Group
Paramount Group is Africa’s largest privately owned defense and aerospace business. It is a leader in defence and security innovation and is a trusted partner to sovereign governments around the world, providing ground-breaking products, services and consultancy, including support for peacekeeping missions. Please visit www.paramountgroup.com for more information and follow us on Twitter.
Listed on the London Stock Exchange (LSE: QQ.L), QinetiQ is a leading science and engineering company operating primarily in the defence, security and aerospace markets. Our customers are predominantly government organisations including defence departments, as well as international customers in other targeted sectors.
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