Sagem and Rosoboronexport to create joint venture for inertial navigation systems
Moscow, December 9, 2010
Rosoboronexport and Sagem (Safran group) today signed an agreement to create a joint venture for inertial navigation systems, at the 15th session of the French-Russian intergovernmental commission on bilateral cooperation.
The agreement was signed by Ivan Goncharenko, deputy director general of Rosoboronexport and Jean-Lin Fournereaux, Chairman and CEO of Sagem, in a ceremony attended by the heads of government of the Russian Federation and France.
The new company will be based in the Russian Federation, with the Russian partner holding 51% and the French partner 49% of the capital.
Commenting on this agreement, Ivan Goncharenko said: " I firmly believe that this new French-Russian company will not only strengthen and expand the military and technical collaboration between our two countries, but also open new and mutually profitable prospects for the development and manufacture of high-tech products, as well as exchanges of advanced technologies. "
Jean-Lin Fournereaux added: " This new venture clearly symbolizes the favored relations that have developed between our two countries, at both the industry and government levels."
Sagem, a high-tech company in the Safran group, holds world or European leadership positions in optronics, avionics, electronics and safety-critical software for both civil and military markets. Sagem is the No. 1 company in Europe and No. 3 worldwide for inertial navigation systems (INS) used in air, land and naval applications. It is also the world leader in helicopter flight controls and the European leader in optronics and tactical UAV systems. Operating across the globe through the Safran group, Sagem and its subsidiaries employ 6,900 people in Europe, Southeast Asia and North America. Sagem is the commercial name of the company Sagem Défense Sécurité.
For more information: www.sagem-ds.com
Rosoboronexport is the only company in Russia that offers the full range of military and dual-use products, technologies and services in the export market. The company's status guarantees government support for all export operations. Rosoboronexport is a leader in the global defense market, accounting for more than 80% of Russian exports of weapons and military technologies. In 2009 Rosoboronexport delivered products to its export customers worth $7.4 billion, and its backlog of export orders now stands at about $40 billion. It works with nearly 80 countries, teaming up on military and/or technical affairs. Rosoboronexport is a reliable partner, fully in compliance with the military and political obligations of the Russian Federation, including regulations covering arms exports.
For further information see: www.rusarm.ru
Service de presse FGUP «Rosoboronexport»
Tel.: 8-(495)-964-66-18, 8-(495)-739-60-41
Fax: 8-(495)-963-26-13, 8-(495)-964-83-11
Adresse : Russie, 107076, Moscou, rue Strominka, 27
Contact presse Sagem (groupe Safran)
Tél. : +33 1 58 11 19 49