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Defense Industry News - Sagem / Rosoboronexport |
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Monday,
13 December 2010, 16:55 PM |
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| Sagem
and Rosoboronexport to create joint venture for inertial navigation
systems. |
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Moscow
- Rosoboronexport and Sagem (Safran group) today signed
an agreement to create a joint venture for inertial navigation
systems, at the 15th session of the French-Russian intergovernmental
commission on bilateral cooperation.
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The agreement was signed by Ivan Goncharenko,
deputy director general of Rosoboronexport and Jean-Lin
Fournereaux, Chairman and CEO of Sagem, in a ceremony attended
by the heads of government of the Russian Federation and
France.
The new company will be based in the Russian Federation,
with the Russian partner holding 51% and the French partner
49% of the capital.
Commenting on this agreement, Ivan Goncharenko said: “
I firmly believe that this new French-Russian company will
not only strengthen and expand the military and technical
collaboration between our two countries, but also open new
and mutually profitable prospects for the development and
manufacture of high-tech products, as well as exchanges
of advanced technologies. ”
Jean-Lin Fournereaux added: “ This new venture clearly
symbolizes the favored relations that have developed between
our two countries, at both the industry and government levels.”
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