The land systems arm of Singapore Technologies Engineering Ltd (ST Engineering) has entered into an agreement with Israel Aerospace Industries Ltd (IAI) to set up a joint venture company (JV) named Proteus Advanced Systems Pte. Ltd.
The JV will leverage the strengths and track record of its parent companies to market and sell advanced naval missile systems, including a next generation anti-ship missile system.
The JV is located in Singapore, with ST Engineering and IAI each having a 50% share.
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