South Africa's privately owned defence and aerospace company, Paramount Group, has signed a partnership agreement with Argentina-based Codesur, in an effort to further expand its business into Latin America.
The agreement with Codesur is based on a regional programme seeking introduction of Paramount's security and land systems, electronic and aerospace systems to address emerging security challenges in the region.
Involving production of armoured vehicles in Argentina and other major centres, the agreement also includes transfer of technology (ToT) to the region, according to local demand for Paramount's vehicles.
Paramount Group CEO John Craig said the growing Latin America's economies sought increased need to ensure and maintain stability that is understood by the company as many of the social challenges, such as drug trafficking, gang warfare and other crimes faced by the region are also found in South Africa.
The company's vehicles and security solutions have been designed to address the unique challenges that make it an ideal security supplier and partner to Brazil and other Latin American countries, Craig added.
Paramount Group business development director Miles Chambers said: "Through technology transfers, and the focus on sustainable and multirole equipment, we can ensure investment in Paramount's solutions meet the ever changing needs of security forces, providing product longevity for up to 20 years."
Argentine/South African Chamber of Commerce chairman Oscar Hanser added that products valued at $1.2bn were exported by Argentina to South Africa every year.
"In these circumstances, it is impossible to imagine a future without Africa, and South Africa acts as a gateway to the region."
Paramount has already delivered its armoured vehicles to a number of police forces in the region, including the Rio de Janeiro special operations police (BOPE), which successfully completed trials of Maverick armoured security vehicle.
The company also presented its leading security technologies to military and public safety officials, to maintain safety and security across the continent, as Brazil readies to host an array of sporting events, including the Confederations Cup, FIFA World Cup and the Olympics and Paralympics games in the next four years.