AhlulBayt News Agency: The Israeli military technology company Controp Precision Technologies Ltd. will establish its first subsidiary in the United Arab Emirates, a new report says.
Israel’s Maariv newspaper reported on Sunday that the regime’s cabinet had approved the plan following authorization by the ministry of military affairs, while strict oversight mechanisms had been introduced to prevent the transfer of sensitive information to the Arab country.
The new branch, Controp Emirates Ltd., will have an Israeli chief executive and operate from Abu Dhabi, with full ownership retained by the Israeli parent company, the report added.
Controp specializes in the development and production of electro-optical and precision motion control systems for surveillance.
It provides equipment for intelligence gathering, border control, and drone warfare, which are used by the occupation’s army, US border agencies, and several foreign armies.
The report said Controp’s Abu Dhabi branch is expected to manage sales, maintenance, technical support, and local manufacturing of the company’s electro-optical systems.
It further cited Israeli regime sources as saying that the move represents “another step in strengthening economic and technological cooperation” between Tel Aviv and Abu Dhabi.
The initial investment is estimated at around $30 million, funded through Controp shares and owner loans, according to the report.
The establishment of Controp’s Abu Dhabi branch marks the first Israeli arms venture in the Persian Gulf region since 2020, when the UAE normalized relations with Tel Aviv under the so-called Abraham Accords, with Bahrain and Morocco following suit.
Over the past few years, the two sides have strengthened economic, military, and tourism ties and concluded a free trade agreement.
Abu Dhabi has criticized Israel's genocidal war on the Gaza Strip, but maintained relations with the criminal regime.
Trade of goods between Israel and the UAE totaled about $3.2 billion in 2024, not including software and services, as well as direct transactions between the Emirati government and the Tel Aviv regime, according to the Israeli Central Bureau of Statistics.
Back in January, Thirdeye Systems, an Israeli military supplier, sold a 30 percent stake to Emirati state-owned defense conglomerate EDGE for $10 million.
.....................
End/ 257
Your Comment