GROWTH OPPORTUNITIES
New defence and aerospace group Paramount to focus on SA market
Global defence and aerospace group Paramount Group has established a local entity to pursue acquisition-led growth in the domestic market. The establishment of Paramount South Africa marks Paramount Group’s indirect foray into its home market. The local unit will offer among other things aerospace, internal security, customs and excise, border security and antipoaching services. Since its establishment in 1994, the SA-based defence and aerospace group has sought growth outside the country. "We have never done business in South Africa," Paramount founder Ivor Ichikowitz said. "We are one of a few companies that have never relied on their domestic market." Ichikowitz said that Paramount did not initially prioritise the local market. It was overtraded and not large enough, he said. "The mission was to create a global entity". Technology, research and development However, the time was ripe for the group to establish Paramount South Africa in order to pursue local opportunities, Ichikowi...
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