MAZ Group and Rheinmetall Air Defense create Rad Arabia Co.
The Law Office of Looaye M. Al-Akkas in association with Vinson & Elkins has represented Saudi-based MAZ Group in its Joint Venture with Swiss-based Rheinmetall Defense to create Rad Arabia Co., a manufacturing and development center of air defense systems and technologies in the Kingdom of Saudi Arabia (KSA).
RAD Arabia Co. will be a specialised defense company with local KSA capabilities in manufacturing, maintenance, repair and overhaul (MRO), and research and development to lead production on a global scale.
Serving customers in the wider Middle East region as well as Africa, the joint venture comes in line with Saudi’s Vision 2030’s strategic objectives to localize more than 50% of the Kingdom’s defense expenditure by 2030.
The transaction team was led by senior associate Abdulaziz Al-Alami (pictured right) and associate Ghaida Bajbaa (pictured left), with support from counsel Wail Al Kahtany.