DefendTex is seeking to acquire Brazilian arms manufacturer Avibras and the two companies have today released a joint statement on negotiations. The statement reads in full:
"Avibras Indústria Aeroespacial and DefendTex hereby announce that they have been engaged in advanced discussions to facilitate a potential investment aimed at the economic and financial recovery of Avibras, with the goal of maintaining its manufacturing facilities in Brazil, resuming operations as soon as possible, and ensuring the fulfillment of contractual obligations with the Brazilian government and other clients.
"Both companies are committed and diligently working to finalise the specific terms and conditions of the investment and will keep the market informed.
Avibras is a Brazilian technology and innovation company with unique industrial capabilities, globally recognized for the excellence and quality of its products, systems, and engineering solutions in the Aerospace, Defense, Electronics, Vehicles, and Aeronautical sectors. With over 60 years of experience, Avibras has consolidated its position as one of the world's leading companies in the Defense and Aerospace segments.