The Brazilian Army has conducted a series of MTC-300 live-fire trials from the AV-LMU 6×6 platform across Brazil. (Brazilian Army)
Brazilian missiles and rockets specialist Avibras Indústria Aeroespacial is working on a new deal for its financial recovery.
On 31 January the company announced that it is in advanced discussions with Black Storm Military Industries of the Kingdom of Saudi Arabia (KSA) to facilitate a potential investment aimed at the financial recovery of Avibras. The terms and conditions of the investment are being finalised, according to Avibras.
This partnership aims to maintain Avibras' manufacturing facilities in Brazil, enabling them to resume operations as soon as possible, and ensuring the fulfilment of the company's obligations with the Brazilian government and other clients, its creditors, and its workforce, the company said.
Avibras declined to comment further, citing a non-disclosure agreement, the company told Janes on 4 February.
Little is known about Black Storm. The company's website said it is active in the defence, environment, energy, and industrial solutions markets.
In 2024 Avibras held talks with Australian company DefendTex and a national investor, but no deal was reached.
Chinese state-owned defence conglomerate China North Industries Corporation (Norinco) has reportedly submitted a proposal to Brazilian authorities to acquire a 49% stake in Avibras.
The financial situation of Avibras remains a concern for the Brazilian Army as the company is jointly developing the MTC-300 (Míssil Tático de Cruzeiro) tactical cruise missile with the Army Technological Centre for the Avibras Astros II Mk 3M and Mk 6 multiple launch rocket systems (MLRSs) of Army Artillery Command. The missile has a maximum range of 300 km.
Development is nearing completion, a source at Army Artillery Command told Janes
Looking to read the full article?
Gain unlimited access to Janes news and more...
