Singapore Technologies Engineering (ST Engineering), through its land system division, announced the signing of a partnership with state-owned Israel Aerospace Industries (IAI), which resulted in setting up a joint venture (JV) company in Singapore, with both parties having an equal 50% ownership from the newly created JV, named Proteus Advanced Systems.
The newly formed company will focus on marketing and selling advanced naval missile systems, including a next generation anti-ship missile system, hoping to leverage the strengths and existing track record of both of its parent companies.
IAI has developed a range of naval missiles, including the Barak family of surface-to-air missile (SAM) and the Gabriel ASM systems. The company also offers the secretive Gabriel ASM, which has entered service with the Israeli Navy and several other navies around the world.
(Sources: The Straits Times; ST Engineering)
