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Tawazun boosts investments after reshuffling businesses

The UAE's Tawazun has acquired Trust International Group as part of a wider reorganisation of its business holdings. (Getty Images)

The United Arab Emirates' Tawazun has increased its control of two suppliers to the country's military, Trust International Group, and International Golden Group (IGG), Janes has learnt, as part of a wider reshuffling of the Emirati organisation's portfolio.

Through its Tawazun Holding organisation, the organisation has taken complete control of Trust International Group., which acts as a supplier and support provider to the UAE military, helping with capability needs assessments, requirement identification, acquisition support, and maintenance, repair, and overhaul (MRO) service provision, and partners with international companies.

Tawazun's stake in IGG has also been increased to an undisclosed amount, but follows on from an initial equity investment in the company in 2011. IGG provides partnering services for foreign defence companies, as well as delivering equipment to the UAE's armed forces, Ministry of Interior, and other defence and security authorities.

β€œThe reason we are investing in these companies is to not only help them have close ties to the government, but also to support them, add some value to make sure they are more transparent towards government since they are managing some key projects for government, and at the same time [help them] benefit from the expertise that we have acquired over the years from organisational turnaround,” Tawazun CEO Tareq Abdulraheem Al Hosani told Janes .

A number of Tawazun organisations have also been moved under the umbrella of Tawazun Holdings. These include the organisation's investment arm, the Strategic Development Fund, research and development organisation Tawazun Technology and Innovation, manufacturing centre Tawazun Industrial Park (TIP), and firearm- and ammunition-testing facility Abu Dhabi Proof House.

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