Paramount Group

From Wikipedia, the free encyclopedia

Template:Short description Script error: No such module "For".

Page Module:Infobox/styles.css has no content.Page Template:Infobox company/styles.css has no content.

Paramount Group
Company type
Proprietary company
ISINScript error: No such module "WikidataIB".
IndustryScript error: No such module "WikidataIB".
PredecessorScript error: No such module "WikidataIB".
IncorporatedScript error: No such module "WikidataIB".
FoundedScript error: No such module "WikidataIB".
FounderScript error: No such module "WikidataIB".
DefunctScript error: No such module "WikidataIB".
SuccessorScript error: No such module "WikidataIB".
Headquarters
Abu Dhabi
,
United Arab Emirates[1]
Area served
Worldwide
Key people
Steve Griessel (CEO)
ProductsCombat systems
Aircraft
Helicopters
Combat vehicles
Boats
Ships
RevenueScript error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Total assetsScript error: No such module "WikidataIB".
Number of employees
Script error: No such module "WikidataIB".
ParentScript error: No such module "WikidataIB".
Websitewww.paramountgroup.com

Script error: No such module "Check for conflicting parameters".Script error: No such module "Check for deprecated parameters".

Paramount Group is a South African aerospace and defense group, operating in the global internal security and peacekeeping industries. Established in 1994, it offers a range of military aircraft, armored vehicles, maritime systems, equipment, and training to governments.[1]

History

Paramount Group was established by South African entrepreneur and industrialist Ivor Ichikowitz in 1994; its headquarters were established in Sandton, South Africa.[2] During its initial years of operation, the company largely focused itself on the development and production of ground-based systems.[2]

During 2006, Paramount Group began developing its own portfolio of aerospace products, acquiring a number of surplus South African Air Force (SAAF) Dassault Mirage F1s that same year.[2]

Operated by its subsidiary, Paramount Aerospace Systems, the Mirage F1 fleet has been expanded over the years and is used for purposes such as providing aerial aggressor and ground crew maintenance training services to government customers.[3] During 2009, Paramount Group purchased a 19% stake in the South African aerospace company Aerosud.[2]

During February 2011, Paramount Group announced the launch of a joint venture with Abu Dhabi - based defence business International Golden Group for the latter market and distribute Paramount Group’s products and services in the United Arab Emirates.[4]

In September 2011, the company unveiled a new project, the AHRLAC Holdings Ahrlac (Advanced High Performance Reconnaissance Light Aircraft), a versatile low-cost aircraft designed for light attack and reconnaissance missions.[5][6] The development programme was originally structured as a joint venture between Aerosud and Paramount Group.[7][8] While originally intended as an alternative to unmanned aerial vehicles (UAVs), the company subsequently decided to develop an unmanned variant of the AHRLAC as well.[8][9]

During December 2011, the UK national newspaper The Daily Telegraph reported that the Paramount Group's Wikipedia article had been edited by accounts linked to the controversial public relations company Bell Pottinger.[10][11]

On 10 June 2013, Paramount Group announced that their takeover of Advanced Technologies and Engineering (ATE) was at an advanced stage. ATE had been operating under a business rescue plan for some time before Paramount decided on the takeover.[12][13]

During November 2013, Paramount Group announced that it had gained a controlling stake in ship builder Nautic Africa; it stated its intention to produce a new range of vessels, claiming it would help Africa protect against piracy.[14][15] Two years later, the company began construction of a state-of-the-art naval production facility located in Cape Town.[16] During September 2018, it acquired the South African boat manufacturer Austral Marine.[17]

During February 2014, Paramount Group announced that it had acquired Aerosud as a part of its strategy to rapidly expand its presence within the aerospace and defence markets. Shortly thereafter, the company was renamed Paramount Aerospace.[2] Furthermore, around the same time frame, a new division of the company, Paramount Robotic Systems, was created with the goal of developing autonomous capabilities with airborne, land and sea applications.[2]

During July 2014, Paramount Group and American aerospace company Boeing signed a memorandum of collaboration to develop products together across a wide range of areas, including humanitarian aid, disaster relief, anti-poaching and border protection.[18][19] Since forming this partnership, the two companies have jointly worked on several projects pertaining to aviation technologies.[20]

In March 2016, Boeing announced that it had entered into a development partnership with Paramount with the aim of producing a militarized version of the Ahrlac; Boeing's contribution to the programme reportedly includes the development of an integrated mission system with intelligence, surveillance and reconnaissance (ISR) and weapons system capabilities for the aircraft.[21][22]

In April 2015, Paramount Group announced that it was in the process of taking over DCD Protected Mobility, formerly a division of South African industrial and engineering group DCD. Under the terms of this agreement, Paramount took control of its facilities located in Isando, Kempton Park.[23]

By 2016, the business reportedly has government clients in 28 countries across five continents. along with partnerships with numerous leading international defence and aerospace players.[24] At the time, Paramount Group was organised into four primary business units: maritime, combat systems, aerospace, and advanced technologies.[25]

On 20 September 2018, Italian aerospace manufacturer Alenia Aermacchi signed an agreement with Paramount Group for the latter to evaluate and develop a combat-orientated model of the former's M-345 trainer aircraft to suit the requirements of prospective African customers. It is reportedly planned for the aircraft to be updated with Paramount's Swift mission system.[26]

In January 2020, the company announced the establishment of a new division, Paramount Advanced Training and Support, which consolidates the group’s existing global training, support and skills development capabilities across its land, sea and air operations.[27]

In January 2022, Paramount Group announced that it had appointed Steve Griessel as its group chief executive officer.[28] Prior to his appointment as the Group CEO, Griessel held the position of CEO of Paramount's US-based subsidiary, Paramount USA.

Hellenic Defence Systems (EAS) and Paramount Industries Greece announced a strategic partnership on 11 May 2023 for the indigenous production of long-range loitering munitions. Paramount said the co-development of the 'IRIX' system would help enhance Greece's defence capabilities and foster autonomy within its defence industry. The agreement also encourages the participation of other Greek companies in the production supply chain.[29]

On August 15, 2024, Paramount Group filed for Chapter 11 bankruptcy protection, listing assets and liabilities between $1 billion and $10 billion.[30]

Vehicles

During 2000, Paramount Group launched the first of its vehicles, the Marauder.[31][16] Since then, the firm has expanded its range to manufacture a variety of armoured vehicles, including the Maverick, Mbombe 6,[32] and Matador.[33]

References

Page Template:Reflist/styles.css has no content.

  1. ^ a b Page Module:Citation/CS1/styles.css has no content."Paramount Group - About". Paramount Group. Retrieved 13 May 2025.
  2. ^ a b c d e f Page Module:Citation/CS1/styles.css has no content.Trimble, Stephen (4 September 2014). "Paramount expands with Aerosud acquisition, robotics unit". Flight International.
  3. ^ Page Module:Citation/CS1/styles.css has no content.Perry, Dominic (5 October 2017). "Paramount Group bolsters Dassault Mirage F1 fleet". Flight International.
  4. ^ Page Module:Citation/CS1/styles.css has no content."Paramount Group enters into joint venture with International Golden Group". Strategic Defence Intelligence. Retrieved 12 May 2013.{{cite web}}: CS1 maint: deprecated archival service (link)
  5. ^ Page Module:Citation/CS1/styles.css has no content.":: AAD 2012 :: Africa Aerospace & Defence 2012". Aadexpo.co.za. 23 July 2012. Retrieved 12 May 2013.
  6. ^ Page Module:Citation/CS1/styles.css has no content.Mcgroarty, Patrick (27 September 2011). "Two South African Defense Firms Take Aim at Niche Aircraft Market - WSJ.com". Online.wsj.com. Retrieved 12 May 2013.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Paramount Group to spread AHRLAC's wings across Africa and beyond". DefenceWeb. 11 September 2012. Retrieved 12 December 2012.
  8. ^ a b Majumdar, Dave. "South Africa's Dirt-Cheap War Machine." The National Interest, 9 October 2015.
  9. ^ Jeffrey, Colin. "AHRLAC: The first multi-platform military aircraft designed and built in Africa." New Atlas , 15 August 2014.
  10. ^ Page Module:Citation/CS1/styles.css has no content."The arms company, the oligarch and the ex-PM's sister-in-law: lobby firm's Wikipedia hit list". The Independent. 9 December 2011. Archived from the original on 2022-05-25. Retrieved 9 December 2011.
  11. ^ Page Module:Citation/CS1/styles.css has no content.Cave, Tamasin; Rowell, Andy (24 March 2014). "The Corporate PR Industry's Sneaky War on Internet Activism". Vice. Archived from the original on 25 March 2014. Retrieved 25 March 2014.
  12. ^ Page Module:Citation/CS1/styles.css has no content."Paramount Group Acquires ATE". Aviation Today. 10 June 2013.
  13. ^ Page Module:Citation/CS1/styles.css has no content."Paramount takeover of ATE a done deal". DefenceWeb. 6 June 2013. Retrieved 10 June 2013.
  14. ^ Page Module:Citation/CS1/styles.css has no content."SA to produce world class naval vessels". www.enca.com. Archived from the original on 26 November 2016. Retrieved 25 November 2016.
  15. ^ Page Module:Citation/CS1/styles.css has no content."Paramount Group Buys Controlling Stake In Leading African Shipbuilder Nautic Africa In Landmark Deal". defense-aerospace.com. 7 November 2013.
  16. ^ a b Page Module:Citation/CS1/styles.css has no content."About: Milestones". Paramount Group. Retrieved 27 March 2020.
  17. ^ Page Module:Citation/CS1/styles.css has no content."Acquisition Boosts Leisure Market for Nautic Group". Austral Marine. 19 September 2018.
  18. ^ Page Module:Citation/CS1/styles.css has no content."Transatlantic strategic collaboration cemented [AAD142]". www.janes.com. IHS Jane's 360. Retrieved 1 January 2017.
  19. ^ Page Module:Citation/CS1/styles.css has no content."Paramount Group: Boeing signs defence partnership". IOL. Retrieved 30 January 2017.
  20. ^ Page Module:Citation/CS1/styles.css has no content.Trimble, Stephen (17 September 2014). "Boeing, Paramount draw closer, but mum on details". Flight International.
  21. ^ [1] "Boeing, Paramount Team Up to Add Weapons to Mwari." AW&ST, 10 March 2016.
  22. ^ Atherton, Kelsey D. "Boeing Will Arm South Africa's Weird Plane." Popular Science, 8 March 2016.
  23. ^ Page Module:Citation/CS1/styles.css has no content.Campbell, Keith. "Latest Paramount acquisition marks a major consolidation in the SA defence industry". Engineering News. Retrieved 25 November 2016.
  24. ^ Page Module:Citation/CS1/styles.css has no content."Avionics Magazine :: Paramount Group Acquires ATE". www.aviationtoday.com. Archived from the original on 2016-11-26. Retrieved 2016-11-25.
  25. ^ Page Module:Citation/CS1/styles.css has no content."Company Profile" (PDF). Paramount Group. Archived (PDF) from the original on October 22, 2016. Retrieved 25 November 2016.
  26. ^ Hoyle, Craig. "Leonardo eyes African market for armed M-345." Flight International, 27 September 2018.
  27. ^ Page Module:Citation/CS1/styles.css has no content."Paramount Group launches Advanced Training and Support Division". paramountgroup.com. Retrieved 2023-04-13.
  28. ^ Page Module:Citation/CS1/styles.css has no content."Paramount Group appoints Steve Griessel as Group Chief Executive Officer". www.paramountgroup.com. Retrieved 2023-04-05.
  29. ^ Page Module:Citation/CS1/styles.css has no content."Greek Defence Industry Receives Major Boost Through Production of Advanced Drone Technologies in Greece". www.paramountgroup.com. Retrieved 2023-06-02.
  30. ^ Page Module:Citation/CS1/styles.css has no content.Randles, Jonathan; Sguazzin, Antony (August 15, 2024). "South Africa-Founded Defense Firm Paramount Files Bankruptcy". Bloomberg. Retrieved August 15, 2024.
  31. ^ Page Module:Citation/CS1/styles.css has no content."Mbombe Paramount Group wheeled armoured fighting vehicle technical data sheet specifications UK - Army Recognition". Armyrecognition.com. 14 July 2012. Archived from the original on 15 August 2012. Retrieved 12 May 2013.
  32. ^ Page Module:Citation/CS1/styles.css has no content."Defense & Security Intelligence & Analysis: IHS Jane's | IHS". Articles.janes.com. Retrieved 12 May 2013.{{cite web}}: CS1 maint: deprecated archival service (link)
  33. ^ Page Module:Citation/CS1/styles.css has no content.ARG. "Matador - Mine resistant ambush protected vehicle". Retrieved 12 May 2013.{{cite web}}: CS1 maint: deprecated archival service (link)

Page Module:Side box/styles.css has no content.Page Template:Sister project/styles.css has no content.

Page Template:Plainlist/styles.css has no content.
Script error: No such module "Sister project logo".
Wikimedia Commons has media related to Paramount Group.Template:Preview warning

Lua error in package.lua at line 80: module 'Module:Navbox/configuration' not found.

Template:Witwatersrand companies

Retrieved from "https://cosmopedia.co/index.php?title=Paramount_Group&oldid=10932190"