UAE Shipbuilding Joint Venture Announced
EDGE, a global technology and defense group, and CMN NAVAL, a naval shipbuilding group specializing in the design, engineering, and construction of naval and commercial vessels and mega yachts, agreed to create a new Abu Dhabi-based shipbuilding joint venture (JV) named AD NAVAL (ADN). Leveraging an existing order pipeline worth approximately EUR 7 billion, the JV will bring together both companies under an exclusivity agreement on the segment of high value small to mid-size naval vessels including Corvettes, Offshore Patrol Vehicles (OPVs), High-speed Interceptors, Trimarans, and Landing Craft.
EDGE holds a 51% stake in the new company and will collaborate with CMN NAVAL on sales, commercial activities, and engineering. It will also establish a design bureau which will assume intellectual property rights for all future designs. The JV will grant EDGE access to CMN NAVAL’s global supply chain and its advanced Integrated Logistics Support (ILS) system and software, enhancing cost efficiency and operational performance through predictive and preventative maintenance, as well as the provision and management of all spare parts.
The scope of the JV will also explore Combat Systems Integration (CSI) of EDGE’s advanced autonomous air and sea, and smart weapons solutions onto vessels built by the new company.