UAE's Tawazun Holding, Northrop Grumman announce collaboration on advanced technology defence orogrammes

Abu Dhabi, Feb. 24, 2009 (WAM) - Tawazun Holding, a company established within the Offset Group , yesterday signed a Memorandum of Understanding (MoU) with Northrop Grumman Corporation through the Electronic Systems sector (NYSE: NOC) to explore the establishment of a collaborative business alliance on various defence programmes and requirements.
The MoU was signed by H.E. Saif Mohamed Al Hajeri, chief executive officer of Tawazun Holding, and John C. Johnson, sector vice president '&' general manager of Northrop Grumman's Aerospace Systems Division.
"This MoU signifies our mutual interest in exploring ways in which we can collaborate to combine our strengths and consolidate our efforts in identifying opportunities for a sustainable and viable business," said Al Hajeri. "It is a significant step towards building a long term relationship to help achieve the UAE's economic diversification goals and to develop solutions that meet the defence and business requirements of the UAE." "We are honoured to work with Tawazun Holding to help support its goals to bring technology and expertise to the UAE, create economic diversification and manage the country's defence industry. Northrop Grumman understands its vision to strengthen and develop the future economy of Abu Dhabi through strategic industry partnerships," said Johnson. "I look forward to a long and very successful working relationship." Under the MoU, Tawazun Holding and Northrop Grumman will explore the potential feasibility of establishing a collaborative business alliance across a variety of defence related activities with mutual long term interest to both companies.
The MoU covers the exchange of programmatic and planning information, capabilities and expertise to identify synergies and to develop operational concepts.
Tawazun Holding currently focuses on the development and expansion of selected emerging companies across a wide range of industrial and commercial disciplines and seeks to create viable strategic partnerships that will add value to the UAE economy. Offset is mandated to set up joint ventures, as well as to invest in commercial, industrial, financial, and educational projects and to create investment funds in the UAE and abroad.
Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.