Drone maker Cassidian, a unit of European aerospace and defence giant EADS, has decided to shelve its joint venture with Brazilian conglomerate Odebrecht, an EADS spokesman told AFP on Tuesday. Confirming an article in the business daily Handelsblatt, the spokesman said the joint venture, set up in 2010, had been hoping to land a $6 billion (4.6-billion-euro) contract for a border security system, but the contract had been awarded to rival Embraer. "A joint venture without any orders is an empty shell," the spokesman said. Cassidian would nevertheless remain present in Brazil, which it regards as an "important market of the future," he said. The country will host the 2014 soccer World Cup and the 2016 summer Olympics, which will require colossal investments in infrastructure and security. Cassidian specialises in security systems and solutions and has been seeking to boost its activities in emerging economies to offset falling defence investment in Europe.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor