Paramount Group acquires controlling stake in Nautic Africa
Paramount Group has acquired a majority stake in Nautic Africa, adding in-house shipbuilding capability to its portfolio.
The acquisition follows the growing demand of maritime capabilities for the protection of Africa’s coastlines, lakes and rivers as well as its political and economic assets.
Paramount Group said in a statement released on 26 November that the investment will lead to enhanced production capabilities with the current workforce of 100 expected to double by 2015.
Nautic Africa offers ‘customised vessel solutions’ and specialises in high-speed, ballistic-protected aluminium patrol vessels ranging from 9-90m for deployment in oil and gas security, anti-piracy and illegal
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 1 free story per week
- Personalised news alerts
- Daily and weekly newsletters
- Free magazine subscription to all our titles
- Downloadable equipment data handbooks
- Distribution rights (Corporate only)
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
- 10-year news archive access
- Downloadable equipment data handbooks
- Distribution rights (Corporate only)
More from Defence Notes
-
![HAL is major beneficiary of latest Indian procurement approvals]()
HAL is major beneficiary of latest Indian procurement approvals
India has approved millions of dollars in new military purchases, most of which will go to public sector companies.
-
![Why cybersecurity must be a priority for Latin American militaries]()
Why cybersecurity must be a priority for Latin American militaries
The main obstacles to overcoming risks in the region are a lack of a strong cybersecurity culture and inadequate funds to invest in this domain given a widespread Chinese presence in the region.
-
![MBDA navigates supply chain pressures amidst increased demand for armaments]()
MBDA navigates supply chain pressures amidst increased demand for armaments
MBDA is adapting to supply chain pressures as the Russian invasion of Ukraine leads to increased demand for armaments.
-
![Why UK defence still faces an uncertain future and difficult decisions]()
Why UK defence still faces an uncertain future and difficult decisions
Despite the additional funding promised this week, the UK armed forces still look set to face cutbacks, and maintaining international commitments to AUKUS and GCAP may limit the options for other programmes.
-
![What's the deal with defence procurement? (podcast)]()
What's the deal with defence procurement? (podcast)
This week on the Shephard Defence Podcast, senior naval reporter Harry Lye and military training & simulation reporter Norbert Neumann chat with Professor John Louth.
