Home News Paramount Group acquires armoured vehicle design firm

Paramount Group acquires armoured vehicle design firm

by Brian Sims

Paramount Group, the privately-owned defence and aerospace company, has acquired the specialist design and engineering firm, Industrial and Automotive Design (IAD,) in a move that will increase the company’s land systems capability. Paramount Group has developed advanced land systems, and the acquisition will further enhance the company’s position. Ivor Ichikowitz, Executive Chairman of Paramount Group, stated, ‘The acquisition of IAD continues Paramount’s culture of innovation and our constant desire to offer the market the best and most advanced technologies available. Bringing IAD into our Group means that we now have an in-house design capability that will strengthen our competitive edge and deliver cutting edge solutions.’ With over 160 years of experience in providing innovative, automotive design solutions to industry, IAD is one of the top companies capable of delivering specialist in-house military vehicle design to the market. The company claims to be responsible for designing the only 15 tonne mine-protected vehicle able to reach speeds of 150km/h. Ben Jansen, CEO of IAD, stated, ‘We look forward to continuing to provide revolutionary technology to the market through the strength of the Paramount Group collaboration. IAD will continue to serve its diverse client base and we are excited about the opportunities which the partnership with Paramount Group presents to our existing customers and the wider market.’

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