Paramount and Argentina sign aviation collaboration agreement


Argentinian state-owned company FAdeA and the Paramount Group have signed a memorandum of understanding (MoU) on defence industrial collaboration, marking the first commercial project to be signed under the auspices of the 2010 MoU between the two respective governments concerning defence cooperation.

The agreement was signed on 27 July on the sidelines of the BRICS summit in Johannesburg by Ivor Ichikowitz, Chairman of Paramount Group and Antonio Beltramone, President of FAdeA, in the presence of Luis Riva, Secretary of Defence Production, Argentina, Jorge Faurie (Minister of Foreign Relations, Argentina), Mr Musawenkosi Aphane (DIRCO, South Africa) and Fernando Sibilla (Executive Director of FAdeA).

The MoU “creates the basis for closer cooperation and innovation of new technologies that will support the development of defence capabilities and industrial capacity of both countries, and provide long term economic benefits, while strengthening regional peace and security,” Paramount said.

The reciprocal exchange of knowledge and skills, high-end engineering collaboration, training and development of appropriate human resources, and transfer of technology will bolster the industrial development of the advanced manufacturing sectors of both countries.
“This agreement also sets the stage for future investment and international collaboration in Argentina’s aerospace and defence industry, and comes only days after President Macri’s announcement on July 23rd that he was modernizing the armed forces to empower them to adapt to the necessities of the 21st century and prepare for the threats of today,” Paramount said.
“Countries that commit to developing their defence industry capabilities enhance their technical competencies which contributes directly to economic development,” said Ivor Ichikowitz, Group Chairman of Paramount Group. “For nearly 25 years, our African-based global aerospace and defence company has seen this model proven in the alliances we have forged with sovereign governments around the world, providing innovative solutions to meet the challenges of today, while at the same time adding significantly to the innovation culture and industrial base in the countries with whom we partner.”

He added: “We are extremely excited by the partnership that we have fostered with the Government of Argentina and are proud to showcase the unique capabilities of Paramount. Our shared success in this mission will truly be proof of President Macri’s vision and his commitment to the strengthening of Argentina’s industrial development.”

FAdeA was founded in 1927 as a Military Aircraft Factory – it developed aircraft under European licenses. In 1944, under the management of Major Juan Ignacio San Martín, it became the industrial complex I.A.M.E. (State Aeronautical and Mechanical Industries). In 1952 it built aeroplanes, engines, propellers and accessories, utility vehicles, automobiles, tractors and motorcycles. The manufacture of two series of 100 aircraft each of the DL22 aircraft, mobilized the creation of more than 300 local SMEs. Pulqui I and II (1947 and 1950), Pucará (late 1960s) and Pampa (1984), were the main landmarks of the factory that, in the 1990s, was taken over Lockheed Martin Aircraft, to be re-statized in 2009 and named Fábrica Argentina de Aviones Brig. San Martín (FAdeA).