Paramount South Africa, the newly launched subsidiary of global defence and aerospace business Paramount Group, and the Council for Scientific and Industrial Research (CSIR), South Africa’s premier scientific research and development organisation, today confirmed their intention to collaborate on the industrialisation and production of specific technologies developed by the CSIR.
The collaboration will bring the latest technology developments of the CSIR into the Paramount portfolio of products and solutions. It will leverage the highly capable industrialisation and production capabilities with the Paramount Group to bring these products to market.
Executive director at CSIR for Defence, Peace, Safety and Security Dr Motodi Maserumule stated: “I am positive about the potential benefits that this collaboration will bring for the development of new technologies for South Africa that will also impact the local economy. These are all Proudly South African innovations for which we now have a route to market through Paramount South Africa.”
Chairman of Paramount South Africa, Matthews Phosa, stated: “We have established Paramount South Africa with the clear objective of embarking on an investment drive and technology transfer that will recharge South Africa’s defence industry. Our partnership with the CSIR is a significant first step demonstrating how Paramount South Africa is going to invest in the local market through strategic partnerships to bring about modern and technologically advanced solutions.
“The sharing of technological and industrial competencies between both Paramount South Africa and CSIR will create its own long-term sustainability. This is about collaborating in the spirit of greater in-country industrialisation and competitiveness.”
The announcement comes against a backdrop of years of collaboration between CSIR and Paramount Group in the fields of scientific research and development (R&D), to produce cutting-edge solutions born of the fourth industrial revolution. The partnership will merge the latest technological research and development capabilities and breakthrough technologies of both CSIR and Paramount Group, leveraging the highly capable industrialisation and production capacities which Paramount Group has fostered for nearly 25 years in bringing new and exciting products to market.
The benchmark further reflects one of the first examples as to how newly formed Paramount South Africa will invest in the local market to bring about modern and technologically advanced solutions.