Media release: Global opportunities for Paramount Group with Azerbaijan growth

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Paramount Group, the leading South African defence company, is exploring new opportunities in the Middle East and further afield after unveiling production in Azerbaijan.

A number of joint production opportunities with the Azerbaijan Ministry of Defence Industry, including land, naval and aerospace, are being assessed to build on Azerbaijan’s growing industrial and peacekeeping aspirations and abilities.

Late in 2009 Paramount finalised an agreement with Azerbaijan’s Ministry of Defence to manufacture the company’s Matador and Marauder mine-protected vehicles (MPVs) in the capital Baku. Industrial co-operation remains an important strategic element of Paramount’s work in the country, with Paramount Group’s production partnership with Azerbaijan key to the company’s expansion in the region.

Ivor Ichikowitz, executive chairman of Paramount Group, said: “Our aim is to create a strong export base that will also support opportunities for other countries throughout the region. We form partnerships with major defence companies to extend our global reach.
“This year Paramount Group has signed a strategic agreement with Ashok Leyland, one of India’s largest companies and a supplier of logistical vehicles to the Indian Defence Force, to manufacture mine-protected vehicles in India.”

Paramount Group is a group of internationally based companies established in 1994. It develops and designs solutions to tackle peacekeeping, defence, and internal security challenges while expanding its manufacture of armoured vehicles worldwide.

Mr Ichikowitz continued: “Paramount’s ethos is to play an important role in technology transfer, creating local jobs and developing advanced skills. The development of the defence and aerospace industry is an essential part of the growth and diversification of Azerbaijan’s industrial economy.”

After further expansion into new markets Paramount Group continues to establish its position within the South African defence industry as a leading provider of global peacekeeping solutions.

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For more information on Paramount Group visit: http://www.paramountgroup.biz