Abu Dhabi, UAE (February 25, 2015)
IGG and Boomeranger Boats Oy have in principle agreed to the acquisition of Boomeranger Boats by IGG for the future supply of special operations RHIBs specifically designed for demanding conditions of the UAE and Regional Armed and Security Forces. The agreement between the parties addresses acquisition 100% of Boomeranger forms part of IGG's industrial expansion plan. This will not only allow IGG to broaden its product portfolio but will also form the basis for technology and knowhow transfer in order to support the UAE Armed and Security Forces when it comes to specialized naval craft. As the plan unfolds, the intended acquisition will allow local and regional expansion of both IGG and Boomeranger's industrial base.
"We are very excited to collaborate and work with Boomeranger Boats," said Fadel Al Kaabi, Chief Executive Officer of IGG. "Teaming up with Boomeranger Boats to provide Special Operations RHIBs to the UAE is an exciting development for our company and will enable us to extend our capability focus area to supply specialized marine craft to both the local and regional defence and security market sector." IGG proudly holds the reputation of being a formidable supplier of defence equipment to the UAE Armed Forces and the acquisition of Boomeranger Boats will further exemplify IGG's dedication and desire to collaborate with companies that share its vision and commitment to serve the UAE Armed Forces by providing state of the art technology driven products and system solutions.
About International Golden Group
International Golden Group (IGG) is a private joint stock company based in Abu Dhabi and specializes in providing high-end security & defense solutions to the UAE Government, UAE Armed Forces, UAE Ministry of Interior and other Security Agencies...etc International Golden Group's objective is to enter into long- term strategic business alliances with local and international companies therby growing it's capability of executing solution-driven projects and integrated defense systems. IGG is all geared up to move into the complex realm of manufacturing, system integration and assembly to become the leading regional supplier for Land, Air and Naval Defense and Security Equipment and Services in order to contribute in the development of the local defense community through the transfer of Technology and Know-How. The management in IGG constantly strive to keep abreast with the latest technology and products in the different fields of defense and security, and to develop a genuine understanding of the corresponding business challenges.
About Boomeranger Boats
Boomeranger Boats Ltd. was founded 1991 and is specialized in Rigid Inflatable Boats (RIB) of the highest quality. Designed and built for professionals by professionals, these boats are developed in Finland for use in the harshest marine environments and meet the demanding requirements of military and defence clients.
For more information please contact:
International Golden Group P.J.S.C.
Nation Towers; Corniche Road; P.O. Box 43999; Abu Dhabi; U.A.E.
P.O. Box 43999; Abu Dhabi; United Arab Emirates
Tel.: 02 6266661
Fax: 02 6267070