Saab, the Swedish defence and aerospace company, and ST Engineering, Singapore's multinational technology and engineering group, have signed a memorandum of understanding (MoU) at the Defence and Security Equipment International (DSEI) event.
This MoU marks a moment in the already 30-year solid partnership between the two firms, with both parties gearing up to explore prospects across mutual markets.
The signing of this MoU is not merely symbolic; it represents the culmination of decades of cooperation between Saab and ST Engineering. Dean Rosenfield, senior vice president and chief marketing officer at Saab, shared his enthusiasm: "This signing of the MoU is the result of 30 years of cooperation between Saab and ST Engineering.
The partnership will see both companies co-creating 'best of breed' technological solutions for our customers, both locally and internationally. We look forward to a deeper collaboration that will surely benefit both parties."
ST Engineering's executive vice president and head of international defence business, defence and public security cluster, Mr. Chua Jin Kiat, echoed this sentiment, saying, "ST Engineering has a longstanding working relationship with Saab, and we believe that we can deepen this partnership, to collaboratively address opportunities not only in each other's home market but also the larger global market, leveraging on each other's strengths and market positions."
ST Engineering's role as a partner for Saab spans a range of domains, including naval, underwater, radar, and missile programmes in Singapore. The MoU's signing is a testament to both companies' trust and enduring relationship.
Headquartered in Singapore, ST Engineering has made a name for itself as a player in the aerospace, smart city, defence, and public security sectors. With this latest agreement, Saab and ST Engineering are poised to unlock new horizons and co-create solutions that will potentially resonate with customers worldwide.
Saab has been busy within the last month, securing a variety of acquisitions and strategic agreements. In terms of investments, Saab has pursued the purchase of future-looking artificial intelligence companies, such as the purchase of UK-based BlueBear Systems to exploit AI swarm systems and the acquisition of Silicon Valley's CrowdAI to bolster Saab's AI and machine learning integration.
In other DSEI 2023 developments, Saab has pursued other business developments in the naval domain by signing a strategic agreement with Babcock to build the next-generation corvette on the event's opening day.
