Defense Industries International enters into South American joint venture
Israel’s Defense Industries International, Inc., a manufacturer and provider of personal military and civilian protective equipment and supplies, has entered into a joint venture with a South American company under which Defense Industries, in conjunction with its South American partner, will supply bulletproof vests to a local Police Authority.
This joint venture is the result of a prior successful cooperation between Defense Industries and this partner. Under the terms of the agreement, the companies will collaborate on the development, manufacture and supply of products for an initial period of fifteen months.
During this initial period, Defense Industries will supply its partner a minimum of 3,000 ballistic protection packs to be fit into the bullet proof vests that the partner will supply to the Police Authority, with the potential for additional follow-on orders from this and other South American law enforcement agencies as a result of this venture.
Commenting on the agreement, Joseph Fostbinder, CEO of Defense Industries said, "This joint venture marks an important step in our ongoing efforts to build further worldwide brand awareness for Defense Industries and its products. We are confident in our ability to further penetrate this key market and build upon our overseas business as we increase general awareness of Defense Industries and the quality and capabilities of its products." — (menareport.com)
© 2003 Mena Report (www.menareport.com)