Saturday, September 29, 2018

S&T Motiv, United Defense agree Philippine joint venture

From Jane's 360 (Sep 27): S&T Motiv, United Defense agree Philippine joint venture

South Korean company S&T Motiv has signed an agreement with Philippine firm United Defense Manufacturing Corporation (UDMC) to establish a joint venture (JV) to meet the firearms requirements of the Armed Forces of the Philippines (AFP).

Officials from the two companies, which specialise in producing firearms and ammunition, said on 27 September that the memorandum of understanding (MOU) will initially be focused on facilitating collaboration but will eventually lead to investment from both sides to support the local production of S&T Motiv products in the Philippines.

Under the agreement S&T Motiv will transfer technologies and technical know-how to UDMC. Collaboration between the two companies will also be focused on joint research and development (R&D), marketing, and distribution, officials told Jane’s at the Asian Defence and Security (ADAS) 2018 exhibition in Manila.

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