Brazilian smart weapons maker SIATT – a recent addition to Emirati defense conglomerate EDGE Group, which bought 50% of the Sao Paulo company in September 2023 – has announced plans to significantly expand the company’s capacity and staff.
According to a Press release from January 16, 2024, the Group’s support will help SIATT expand its headquarters and production base at the São José dos campus sevenfold, from 1,000 square meters to 7,000.
In addition, the business will also recruit from the local talent pool, which will see a significant increase in jobs, with the number of direct employees reaching 200 and indirectly creating more than 600 additional positions.
Prior to the acquisition of SIATT, EDGE Group signed a cooperation agreement with the Brazilian Navy for advanced long-range anti-ship missile technology as part of the national MANSUP anti-ship missile project, for which SIATT provides guidance, navigation, control systems and telemetry. The newly increased capacity will allow for additional laboratory space as well as administrative buildings.
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EDGE Group FDI to help boost jobs in Brazil
Since EDGE Group entered Brazil’s defense market in 2023, the country’s labor market has seen significant growth.
“Growth in the domestic defense market continues to benefit Brazil’s economy as the government seeks to offset a spike in unemployment during the Covid-19 pandemic,” GlobalData defense analyst Tristan Sauer observed. “As the Brazilian military undergoes large-scale modernization efforts, FDI from emerging defense players such as EDGE Group will facilitate the evolution of Brazil’s defense sector into a critical regional player.”
However, since the end of 2023, active jobs in Brazil have seen a steady decline, as can be seen from the chart below.
However, it appears that EDGE’s support to SIATT may serve to offset this decline, especially in the local economy of the state of São Paulo, located on the country’s east coast, just south of Rio de Janeiro.
In addition, other foreign investors in the Brazilian defense market have also reached certain milestones. The French shipping company, Naval Teamit has also supported Brazil’s maritime industry – from resources for it first domestically built submarine in naval nuclear engineering.
New jobs for new defense sectors like these will offset Brazil’s job cuts.
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Read the original at Defence247.gr