Tawazun, the strategic investment firm focused on defence and strategic manufacturing, and the Abu Dhabi-based Al Jaber Group (AJG) have reached an agreement whereby, Tawazun will acquire 60 percent of the AJG-owned Al Jaber Land Systems.
The two companies are currently working together to finalise the agreement under which the new partnership will be created.
Under the new partnership the company will be named Jobaria Defence Systems and be owned 60% by Tawazun and 40% by AJG.
Jobaria Defence Systems will be operating within the military defence market as a supplier of modern weapons systems, with a key focus on Design, Development, and Upgrade and Support Service programs.
Tawazun and AJG are founding partners of Burkan Munitions Systems.