A Griffon Hoverwork 2000TD hovercraft of the Peruvian Marines
Photo by: Griffon Hoverwork
South African private-sector defence group Paramount signed a cooperative agreement with British hovercraft company Griffon Hoverwork in London on Wednesday. The aim of this new strategic partnership is to bring British hovercraft to sub-Saharan Africa and take South African naval products to Europe.
“Forging strategic partnerships that result in new market opportunities, increased growth, stronger product portfolios and continuous innovation have always been at the core of Paramount’s expansion strategy,” explained Paramount Group executive chairman Ivor Ichikowitz. “Partnering with Griffon Hoverwork is therefore not only of great significance but a natural step in boosting our global naval capabilities.”
“This is an exciting relationship for Griffon Hoverwork,” stated company MD Adrian Went. “Paramount brings excellent access to African and other international markets and their group capability will be a real asset to enable our product development and in-country manufacturing programmes.”
The agreement will allow hovercraft to be marketed in Africa and Paramount naval systems to be marketed in the UK and Europe and the establishment of manufacturing and through-life support capabilities in client countries. It will also permit the development (up to and including prototypes) of hovercraft technology products, for the benefit of both groups in the marketplace. Additionally, it will make possible the creation of asset-based financing to facilitate hovercraft sales around the world.
“We are also very pleased to be able to take some of the robust and innovative Paramount product range into the European defence and security market,” added Went. “We believe these world class solutions will be very competitive.”
“The Hovercraft range is an exciting addition to our existing product range, as hovercraft are able to operate over almost any surface including shallow water, ice, vegetation, mud, logs, debris, rapids and flood plains and are used in a variety of security and military operations around the world,” pointed out Ichikowitz. “Griffon Hoverwork’s commitment to design, produce and deliver, on time, the highest quality product to its customer base is one which is shared by Paramount, making this new partnership a formidable one in the African maritime market.”