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September 2, 2021

Ukraine’s Ukroboronprom signs agreement with US defence company

Ukroboronprom signed an agreement to leverage Global Ordnance's supply chain and manufacturing partnerships.

Ukrainian Government entity Ukroboronprom has entered a multi-year cooperation agreement with US-based defence company Global Ordnance.

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The collaboration will enable Ukraine to leverage Global Ordnance’s supply chain and manufacturing partnerships in the US and globally to procure defence items, technologies, and production capabilities.

This will help in strengthening Ukraine’s military and defence industry infrastructure.

Under the agreement, the overall sum of business may amount up to $500m.

Global Ordnance president Marc Morales said: “Our strong relationships with the Ukraine continue to be mutually beneficial to the US and to our Ukrainian allies.

“With this latest and welcomed expansion of cooperation, the US industrial base will benefit from additional work, and the Ukraine will source needed capabilities.”

Ukroboronprom is a strategic manufacturer of weapon and military hardware. The state concern consolidates more than 100 state-owned defence enterprises across five defence-industry sectors.

Currently, Ukroboronprom State Concern general director Yuriy Husyev is on a visit to the US as part of an official delegation.

In addition to Global Ordnance, the Ukrainian entity signed cooperation agreements with Lockheed Martin and Harris Global Communications, a part of the L3Harris Technologies group of companies.

Husyev said: “The strategy for the development of Ukraine’s defence industry, approved by President Volodymyr Zelenskyy and a draft law No 3822 recently passed by Ukraine’s Parliament in second reading create necessary conditions for expanding military-technical cooperation with strategic partners, attracting investment, technology transfer and modernisation of production.

“The agreements reached and signed take cooperation between our countries in the field of defence industry to a new stage and confirm the interest of American partners in cooperation with the Ukrainian defence sector.”

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Latest Updates on the Ukraine/Russia Crisis

Whilst at its core a humanitarian crisis, the Russian invasion of Ukraine risks adding materially to existing global economic and supply challenges. We are likely heading into a period in which geopolitics will become a regular part of boardroom discussions. Recent developments have seen Russian companies make significant progress around the world to supply countries with equipment in various Aerospace, Defense & Security sectors. This means that countries dependent on Russian arms for their security calculations should review all purchases and clauses regarding their programs and payments. Download GlobalData’s 5th Ukraine Conflict Executive Briefing to learn more. This report is part of a continued series that is renewed monthly with the latest data and analysis, as the conflict develops and has wider implications across sectors. Access the latest macro-economic forecasts, charts with the latest data, and our updated sanctions tracker, as well as our updated sector scorecards to reflect the current views on the impact of the crisis at a company level.
by GD50 ADS
Enter your details here to receive your free Report.

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