Griffon Hoverwork Ltd signed a cooperative agreement with Paramount Group, the African based global defence group, revealing a number of global projects that will bring British hovercraft capability to Sub-Saharan Africa and innovative South African designed and developed naval solutions to European customers.
The announcement was made at Defence Security Equipment International (DSEI), the world-leading aerospace, land, maritime and security event taking place at EXCEL in London.
The strategic partnership will deliver the following benefits to both companies and their customers across the world:
- Marketing hovercraft capability to potential customers in Africa
- Marketing Paramount naval solutions to the United Kingdom's Ministry of Defence (DoD) and other European Customers
- Development of in-customer-country manufacturing and through-life support facilities
- Development and prototyping of innovative air cushion technology products for mutual market benefit
- Development of an asset financed solution to support sales of hovercraft in all global markets
Ivor Ichikowitz Executive Chairman of Paramount Group said: "Forging strategic partnerships that result in new market opportunities, increased growth, stronger product portfolios and continuous innovation have always been at the core of Paramount's expansion strategy. Partnering with Griffon Hoverwork is therefore not only of great significance but a natural step in boosting our global naval capabilities.
Paramount Group is a world leader in defence and security innovation with an exceptional reputation for developing and delivering integrated solutions for defence, internal security and peacekeeping forces across the world. Its maritime subsidiary Nautic Africa (Pty) is a leading shipbuilder, designer and maritime service provider, manufacturing patrol craft, support vessels, force protection craft and rigid inflatable's for the military, para-military and commercial sectors.
Ichikowitz: "Paramount Naval Systems has established itself as one of the leading shipbuilders on the African continent but it's also at the forefront of global maritime innovation. The design and innovation competence that exists within Paramount Naval Systems and Nautic Africa can meet the specific demands of modern navies around the world.
"The Hovercraft range is an exciting addition to our existing product range, as hovercraft are able to operate over almost any surface including shallow water, ice, vegetation, mud, logs, debris, rapids and flood plains and are used in a variety of security and military operations around the world."
Ichikowitz concluded: "Griffon Hoverwork's commitment to design, produce and deliver, on time, the highest quality product to its customer base is one which is shared by Paramount, making this new partnership a formidable one in the African maritime market."
Griffon Hoverwork's Managing Director Adrian Went said, "This is an exciting relationship for Griffon Hoverwork. Paramount brings excellent access to African and other international markets and their group capability will be a real asset to enable our product development and in-country manufacturing programmes.
"We are also very pleased to be able to take some of the robust and innovative Paramount product range into the European defence and security market; We believe these world class solutions will be very competitive."