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FINANCIAL NEWS
Tawazun, Caracal merger
04 Sep 2013
(MENAFN) UAE Tawazun Holding decided to merge two of its units, Caracal International and Tawazun Advanced Defense Systems (Tads), stating that it would “maximise global commercial opportunities,” The National reported.
Chief executive of Tawazun, Saif Mohamed Al Hajeri, said: “The decision to merge our two weapons manufacturers was made to create synergy among the group and streamline our military and sporting weapons offerings under one brand name.”
The new emerging company, Caracal International, will manufacture and sell firearms and light weapons in Abu Dhabi.
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