LIG Defense&Aerospace(079550)(LIG D&A) said on the 23rd that it signed a strategic cooperation agreement (SCA) with the United Kingdom's global defense industry corporations Babcock International Group PLC, including frigate development.
According to LIG D&A, LIG D&A and Babcock International Group PLC agreed through this agreement to promote: ▲ global supply chain integration ▲ development of the AH-140 (the United Kingdom's export-type warship) equipped with LIG D&A equipment ▲ launcher and precision-guided munition (PGM) development ▲ maintenance, repair and overhaul (MRO) ▲ cooperation in Robotics, autonomous and unmanned systems.
This agreement was carried out based on the memorandum of understanding that LIG D&A and Babcock International Group PLC signed in Nov. 2024. LIG D&A said, "This agreement reflects our intent to combine innovation, operational excellence and capabilities to meet the needs of defense and security customers worldwide."
Lee Hyun-su, head of overseas business at LIG D&A, said, "It will be a turning point for securing new competitiveness in the global market," and added, "We will continue to expand cooperation to provide integrated naval defense solutions."
Nick Hine, chief growth officer at Babcock International Group PLC, said, "By combining complementary capabilities, deep engineering expertise and a global network, we will present a competitive partnership in key international markets."