South Africa’s Paramount Group and Indonesian state-owned defence company PT Pindad announced the signing of a Memorandum of Understanding (MOU) for the local development, industrialisation and joint marketing of armoured vehicle systems for the Indonesian armed forces.
The MOU was signed during Defence & Security 2019, the biennial defence expo held in Bangkok, Thailand. The MOU provides for the development, local industrialisation and joint marketing of next-generation armoured vehicle systems, in response to the local requirements of Indonesian armed forces. The agreement would enable local manufacturing through technology and skills transfer, the strengthening of local land systems capability, and the creation of new jobs.
Eric Ichikowitz, Senior Vice President of Paramount Group said. “Indonesia is a regional powerhouse with strategic importance for stability and economic growth in South East Asia. We are pleased to partner with PT PINDAD, the state-owned company with heritage of more than 200 years. There are excellent synergies between our respective organisations laying the foundation for innovation, technology development and the bolstering of local defence capabilities.
“Building defence industrial eco-systems through strategic alliances have been the cornerstone of Paramount’s portable manufacturing model and we are excited to develop our armoured vehicle systems technologies and solutions through strong and long-term partnerships.
Ichikowitz added: “We are looking forward to the application of our world-leading design and engineering expertise to develop and produce a range of armoured vehicle systems that is specifically designed to meet the requirements of local end users, including internal security and defence forces.”
Abraham Mose, President Director of PT Pindad said, “We hope the cooperation with Paramount Group may allow us to develop more defence products together, specifically in the field of armoured vehicles, which will bring mutual benefits for both companies.”