19-10-2024, 09:30 PM
Defense Technology
August 5503 | Majatran Organization for Industrialization acquires Dovani-based Military Industrial Organization
The Majatran Organization for Industrialization (MOI) has announced the $2.7b LOD acquisition of the Dovani-based Military Industrial Organization (MIO), based out of the country known as Yerrawa. The acquisition is among the most recent moves by the MOI in acquiring different areas of technology. The Dovai-based MIO specializes in drone and missile technologies among other ventures, for instance MIO also has a aircraft manufacturing wing and several ground and arms manufacturing operations. The purchase comes at a time where the former MIOs ties have come into question within the country. Abdul Hakeem al-Moustafa, the Chairman of the Supreme Committee, announced the purchase with support of the wider Supreme Committee as a whole. The purchase will add a new layer of expertise to the already large catalogue that the MOI possesses, including the development of a new headquarters to replace the one being lost in Yerrawa. al-Moustafa has cited Mina and potentially Talmoria as a location where they might develop a new headquarters for the organization, including factories and R&D facilities.