Joint Venture13 Dec 2024, 11:07 pm
Nibe Ordnance and Maritime Ltd Subsidiary to Form Joint Venture with Premier Explosive Ltd
AI Summary
Nibe Ordnance and Maritime Ltd announced that its subsidiary, Global Munition Limited, has entered into a Memorandum of Understanding (MoU) with Premier Explosive Limited (PEL) to form a Joint Venture. The proposed joint venture will develop, manufacture, and supply ammunition, explosive, aerospace, and other defence products. The joint venture will be a Public Limited Company with Nibe holding 51% and PEL holding 49%.
Key Highlights
- Nibe Ordnance and Maritime Ltd's subsidiary, Global Munition Limited, to form a Joint Venture with Premier Explosive Limited
- The Joint Venture will develop, manufacture, and supply ammunition, explosive, aerospace, and other defence products
- The Joint Venture will be a Public Limited Company with Nibe holding 51% and PEL holding 49%