Emirates Defense Technology signs joint venture with Lacroix
The new joint venture will operate under the name of Emirates Defense Services (EDS), which will provide defense-related services and maintenance for Lacroix products in the Gulf region and around the globe.
The deal will serve to bring a range of defense solution services to the GCC zone, while providing a way for Lacroix to meet the requirements of the defense contract offset agreements that allow the company to operate in the UAE.
Abu Dhabi’s Tawazun Economic Council oversees the offset programs that let defense contractors sell their products in the UAE as long as they work with and buy products from Emirati companies in return. Tawazun hopes this policy will boost economic performance in the Gulf nation while helping the country procure top-of-the-line defense systems.
The joint venture with EDT gives Lacroix both the opportunity to meet those offset requirements and the ability to establish new products and services in the region. That’s a win-win for the French company Etienne Lacroix, according to Group CEO Jean-Jacques Bares.
"Lacroix has been actively seeking to establish a new global service and maintenance division for its products and this new joint venture partnership with EDT has provided the perfect vehicle whereby we can also meet our UAE defense offset requirements,” Bares said. "Lacroix is delighted to extend its relationship with EDT as it further strengthens our close relationship between the companies and also provides a local geographical presence to service our client needs.”