Defense and Security Development Fund and Halcon sign Dh193m deal

Abu Dhabi: The Defence and Security Development Fund of Tawazun Economic Council signed a funding agreement of Dh193 million with Halcon Systems, a company owned by the Abu Dhabi-based Yas Holding Group.

The first phase of the agreement is to set up production lines and further expand Halcon’s existing capabilities to cater for local and international market demands, according to a statement on Tuesday.

The parties are also discussing a direct investment into the development and manufacture of the P4 Guided kit. The guidance kit utilises GNSS and semi-active laser for accuracy on MK 84 (2000lbs; 907kg) aircraft bombs.