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MAZ Group enters industrial Joint Venture with Rheinmetall Air Defense

The Law Office of Looaye M. Al-Akkas in association with Vinson & Elkins has represented Saudi-based MAZ Group in its Joint Venture (JV) with Swiss-based Rheinmetall Defense to create RAD Arabia Co., which will be a manufacturing and development center of air defense systems and technologies in the Kingdom of Saudi Arabia (KSA). Rad Arabia Co. will also qualify and train Saudi national engineers and technicians on land and naval air defense systems.

RAD Arabia Co. will be a world-leading specialized defense company with local KSA capabilities in manufacturing, maintenance, repair and overhaul (MRO), and research and development to lead production on a global scale.

As part of the JV, there will be a significant transfer of knowledge and technology to the Kingdom.  RAD Arabia will localize the production and know-how (through the qualification and training of Saudi engineers and technicians) in land and naval air defense systems to raise competitiveness and sustainable job opportunities in the Kingdom in line with Vision 2030’s strategic objectives to localize more than 50% of the Kingdom’s defense expenditure by 2030.  The JV will serve customers in the wider Middle East region as well as Africa.

Managing Partner, Looaye Al-Akkas remarked: “We are proud to have advised our client on this joint venture, which sets in motion a host of benefits for both parties and will be a catalyst for technology transfer, Saudization, world-class MRO services, and manufacturing in the Saudi Arabian defense sector”.

The transaction team was led by senior associate Abdulaziz Al-Alami and associate Ghaida Bajbaa, with support from counsel Wail Al Kahtany.

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