Rosoboronexport and Sagem Defense Securite (France) establish joint venture, 俄罗斯国防产品出口公司

Release Date: 2010-12-10

Rosoboronexport and Sagem Defense Securite (Safran S.A.) officially agreed on establishing a joint venture for inertial navigation systems on December 9 in Moscow in the frame of the 15th session of the Russian-French Interstate Commission for Bilateral Cooperation

The agreement has been signed by Ivan Goncharenko, first deputy General Director of Rosoboronexport, Russia, and Jean-Lin Fournereaux, President of Sagem DS, France, in the presence of the chairmen of the respective governments.

The new joint venture is to operate in Russia, with a 51% stake of charter capital held by Russia and 49% stake of charter capital held by France.

As Ivan Goncharenko, first deputy General Director of Rosoboronexport, noted during the ceremony, "I am confident that the Russian-French joint venture will enhance and expand the military cooperation between these countries and will open new prospects in design and production of hi-tech products and exchange of cutting edge technologies".

Jean-Lin Fournereaux, President of Sagem DS, noted that "Opening of this new direction witnesses the good relations of Russia and France in terms of both industrial and state relations".

Sagem Defense Securite is a hi-tech company, part of Safran Group. Sagem Defense Securite is a world leader in services and solutions for optical electronic systems, avionics and on-board aviation, sea and on-ground equipment for the civil and military industry. Sagem DS ranks first in Europe and third globally for aviation, sea and on-ground intertial navigation systems. Sagem DS is the world leader in production of control systems for helicopters and is the European leader in production of optical electronic systems and tactical UAVs. Sagem DS' annual commercial turnover is over 1.2 bln Euro. Sagem DS and its daughter companies represented through Safran Group's global network employ 6,700 people across Europe, Asia Pacific and North America.

Rosoboronexport is the only Russian authorized exporter of civil and military products, technologies and services, with a state support for all the related export transactions. Rosoboronexport is one of the leading global arms market players, with over 80% of Russian arms and military equipment exports. In 2009, Rosoboronexport's supplies of military products hit 7.4 bln US dollars. Today, Rosoboronexport's export portfolio is almost 40 bln US dollars, with about 80 partner countries for military and technical cooperation.

Type:	NORMAL
Company:	俄罗斯国防产品出口公司
Country:	俄罗斯