Abu Dhabi investment group in UK tieup
Abu Dhabi, September 14, 2013
Abu Dhabi Autonomous Systems Investments (ADASI), a provider of autonomous systems for air, land and sea use and a unit of Tawazun Holding, has signed a five-year product development and marketing agreement with UK-based Icarus Training Systems.
As per the agreement, ADASI will be primarily responsible for sales in the Men and South Asian region and Icarus for the rest of the world.
The Abu Dhabi group has also undertaken to procure aerostat envelopes from Icarus.
Since 2011, the Abu Dhabi group and Icarus have been co-operating on the development and integration of an aerostat system for an ADASI client, said a company statement.
Now under the terms of the new deal, ADASI will be working more closely together with the UK group to develop and market further products, it added.
Commenting on the deal, CEO Ali Al Yafei said: "The existing co-operation between ADASI, as developers of aerostat systems, and Icarus, as accomplished manufacturers of aerostat envelopes, has made it clear to both parties that there is great potential in establishing an even closer level of co-operation in the future."
"We’re looking forward to developing an exemplary offer for our clients," he noted.
In line with the strategic investment strategy of Tawazun, this agreement represents an important step in helping ADASI to contribute to the diversification of the UAE economy, said Al Yafei.
By building a strong partnership with the UK-based Icarus, ADASI will be able to further enhance its local technological capabilities and create more local career opportunities, he added.
Stuart Haycock, the managing director of Icarus, said the agreement advances the company's strategy of partnering with best-in-industry companies and is a reflection of its enduring commitment to the UAE.
"Working closely with ADASI on the development of an aerostat system for one of their clients has given us every confidence that there are significant synergistic benefits to be gained from closer collaboration in the future," he stated.-TradeArabia News Service