WASHINGTON (dpa-AFX) - Safran Electronics & Defense (SAFRF.PK,0IU8.L,SAF.PA,SEJ1.DE), a defense solutions provider on Friday announced the signing of partnership agreement with Calidus Holding Group for advanced aerial delivery services in the United Arab Emirates.
With Calidus' industrial background and Safran's aerial delivery parachute systems, a state-of-the-art aerial delivery capability for the UAE is expected out of this partnership.
Personal parachutes are also included in this collaboration in which Safran Electronics & Defense will design and produce round parachutes for tactical mass airdrops, with factors including operational excellence and safety.
The current demand in aerial delivery services market in the Middle East and North Africa region is driven by increasing demand for military logistics and expanding role in humanitarian operations.
The shares of Safran are trading 2.26 % lower at 293.50 euros in the Paris market.
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