News Review: Sagem and Elbit Systems establish TUAV joint venture | ADM Nov 2010

Sagem Defense Securite, Safran group and Elbit Systems Ltd Have signed a Memorandum of Agreement regarding the intended establishment early next year of an equally owned joint venture for the tactical unmanned aircraft systems (UAS) market for France and designated international markets, in which existing initiatives will continue through the JV.

The intended joint venture will be a French corporation, located in Eragny and Montluçon (France).

It will be formed by the equal contributions of assets from the two parent companies.

The new company’s portfolio will comprise newly developed products, as well as current and derivative products, from Sagem and Elbit Systems.

The new company will be able to offer a wide range of products for the tactical UAS market, the partners say.