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Paramount Group \u2013 the South African-founded defence company headquartered in Midrand, Gauteng \u2013 says a widening rift between the US and its European allies is opening up new markets, including with North Atlantic Treaty Organisation (Nato) members.<\/p>\n
The private company, now active in about 30 nations, traditionally focused on selling its products, such as armoured vehicles, across Africa and in developing nations such as Jordan, Ecuador and Kazakhstan.<\/p>\n
Read:
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SA produces first military aircraft since the 1980s [Sep 2022]<\/p>\n
There are now opportunities in Europe, according to Deon Grobler, who leads Paramount\u2019s international vehicle business and product development.<\/p>\n
\u201cWe are definitely seeing shifts,\u201d Grobler said Wednesday at the Gerotek testing facility west of South Africa\u2019s capital, Pretoria.<\/p>\n
\u201cThere were no Nato markets two years ago. That has definitely opened up. All of a sudden spending has changed completely out of Europe.\u201d<\/p>\n
The opportunity to profit in Nato amid European nations\u2019 waning confidence in the US coincides with a collapse in military spending in South Africa.<\/p>\n
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That has added further impetus to the company\u2019s international expansion.<\/p>\n
Partnerships<\/p>\n
Through its Greek unit, Paramount is already working with local partner\u00a0MAC HUB\u00a0in Ukraine to manufacture armoured vehicles.<\/p>\n
The venture\u2019s MAC OWL armoured vehicle was certified for use by Ukraine\u2019s armed forces in June, Paramount said in a statement at the time.<\/p>\n
Read:<\/p>\n
Greenland calls on Nato to ensure defence amid US threats
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The MAC OWL is based on Paramount\u2019s Mbombe 4 Infantry Combat Vehicle, a four-wheel, 16-tonne mine-protected truck with a top speed of 140km\/hour and a range of 800km.<\/p>\n
Paramount, founded in 1994, also produces the six- and eight-wheel Mbombe infantry combat vehicles, the Marauder and Maatla armoured cars, and the Maverick and Marshall public order and internal security vehicles.<\/p>\n
Paramount\u2019s Marauder armoured personnel carrier. Image: Bloomberg<\/p>\n
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Grobler says the company is increasingly focusing on protection from drones as well as mines.<\/p>\n
Paramount is also working with MAC HUB to manufacture and sell its MAC Dead Fly interceptor drone and KATRAN uncrewed surface vessel in Europe and Africa.<\/p>\n
Read:<\/p>\n
Capital rotations: Defence and technology
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Other foreign deals include armoured car manufacturing with a local partner in the Czech Republic and an upcoming light armoured multipurpose vehicle made with an Indian partner, to be unveiled at an exhibition next month in Pretoria.<\/p>\n
\u201cOur portable production model allows South African technology and intellectual property to be combined with local manufacturing and industrial partnerships in international markets,\u201d said Mathews Phosa, chair of Paramount\u2019s South African unit.<\/p>\n
\u00a9\u00a02026\u00a0Bloomberg<\/p>\n
#defence #group #Paramount #Nato #market #opened<\/p>\n","protected":false},"excerpt":{"rendered":"
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