EM&E, the family company of brothers Ángel and Javier Escribano, and the Emirati conglomerate EDGE, specializing in technology and defense, have formalized this Wednesday at the Eurosatory defense fair the definitive agreement for the establishment of the 'joint venture' in the Emirates announced last February.
The new company, which initially had an estimated commercial portfolio of 1.5 billion dollars (1.293 billion euros), has raised its forecasts by 15%, to 1.725 billion dollars (1.487 billion euros), as detailed by the Spanish firm, focused on innovation and defense and security technologies, in a statement.
The agreement, signed by the president of EDGE's commercial division, Omar Al Zaabi, and the CEO of EM&E, Fernando Fernández, sets the framework for operation and the rules that will govern the new company, whose entry into operation is planned for the last quarter of 2026.
International projection and co-production
The main objective of this 'joint venture' is to promote the international projection of weapon systems designed by EM&E through a co-production model. The Madrid-based company will lead a technological transfer process so that EDGE's industrial and technological base manufactures different parts of the stations in Emirati territory, while the rest of the production will continue to be carried out in Spain.
The newly created company will also develop a new weapon station, designed according to the latest demands of the global defense sector. From EDGE, Al Zaabi has emphasized that this joint venture "incorporates the production of EM&E's advanced armament systems into EDGE's industrial base, providing a stronger platform to serve customers worldwide."
"The increase in our commercial order book to $1.725 billion since February confirms that there is real interest in what we will build together, and we look forward to the joint venture beginning operations in due course," he added.
On the part of the Spanish multinational, Fernández highlighted that, with the signing of this agreement, the 'joint venture' with EDGE "becomes a tangible reality that drives its internationalization and highlights the technological innovation led from Spain."
"Adding the vanguard of our weapon systems to EDGE's industrial and technological muscle not only energizes our global export capabilities, but also establishes a solid foundation for jointly leading the creation of new cutting-edge security and defense solutions," he concluded.