Raytheon (NYSE: RTN) has launched a new subsidiary named Izdehar in the UAE to enhance joint ventures with regional companies from a variety of industries.
The company said it hopes its closer ties with companies like Abu Dhabi Ship Building, Yahsat Satellite Communications and Emirates Advanced Investment will extend its missile maintenance and satellite imaging markets.
“Izdehar is designed for us to hold the 49 percent joint venture stakes in those companies we form in the UAE by way of offsets obligations, ” said Kevin Massengill, Raytheon’s Middle East regional executive.
