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Defence Conglomerate edge buys majority stake in Abu Dhabi's Gradeone
(MENAFN) Edge, a major defence conglomerate, has acquired a majority stake in Gradeone, a company based in Abu Dhabi that manufactures non-lethal pyrotechnics, ammunition, defence-related components, packing solutions and defence trading, according to a company statement on Friday. The financial details of the deal were not disclosed.
Edge has also brought Gradeone under its trading and mission support cluster, while the company continues to make sporting and hunting equipment, supplies, and accessories. Mansour AlMulla, the managing director and chief executive of Edge, said that the incorporation of Gradeone into the group is a logical and beneficial decision for both firms. The acquisition reinforces Edge's strategy of developing successful partnerships, broadening its supply chain, and enhancing its trading capabilities in the long-term. Edge specialises in advanced technology for weapons systems, cyber protection, and electronic warfare, with over 25 companies under its umbrella.
As the second-largest economy in the Arab world, the United Arab Emirates is focusing on increasing its local defence manufacturing capabilities and diversifying its economy away from oil, and Edge has been expanding its portfolio in response.
Edge has also brought Gradeone under its trading and mission support cluster, while the company continues to make sporting and hunting equipment, supplies, and accessories. Mansour AlMulla, the managing director and chief executive of Edge, said that the incorporation of Gradeone into the group is a logical and beneficial decision for both firms. The acquisition reinforces Edge's strategy of developing successful partnerships, broadening its supply chain, and enhancing its trading capabilities in the long-term. Edge specialises in advanced technology for weapons systems, cyber protection, and electronic warfare, with over 25 companies under its umbrella.
As the second-largest economy in the Arab world, the United Arab Emirates is focusing on increasing its local defence manufacturing capabilities and diversifying its economy away from oil, and Edge has been expanding its portfolio in response.
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