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Paramount Group

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For the hotel chain formerly known as the Paramount Group of Hotels, see The Hotel Collection.
Paramount Group
Company typeProprietary company
IndustryDefence
Founded1994; 30 years ago (1994)
FounderIvor Ichikowitz
Headquarters
Sandton, City of Johannesburg, Gauteng
,
South Africa
Area served
worldwide
Key people
Ivor Ichikowitz (Chairman)
John Craig (CEO)
ProductsCombat systems, Maritime, Aerospace, Advanced technology
Number of employees
>3000
Websitewww.paramountgroup.com

Paramount Group is a group of companies operating in the global defence, internal security and peacekeeping industries. It was founded in South Africa in 1994 and offers a range of armoured vehicles, military aircraft, equipment and training to governments.

The company was founded by South African entrepreneur and industrialist Ivor Ichikowitz. The Group is based in South Africa, with its headquarters in Sandton.

Business

Paramount Group consists of four business units; Maritime, Combat systems, aerospace, and advanced technologies.[1]

Paramount Group manufactures a range of armoured vehicles – the Maverick, Mbombe,[2] Matador[3] and Marauder[4] - and in 2011 unveiled the AHRLAC, a long-range reconnaissance and surveillance aircraft. AHRLAC is the first military fixed-wing aircraft to be designed and built from scratch in Africa.[5][6]

The business has government clients in 28 countries, across five continents and partnerships with leading international defence and aerospace players, including Aerosud Holdings Ltd, its partner in the development of AHRLAC and Advanced Technology and Engineering Co. (ATE).[7]

Expansion and acquisitions

In February 2011, Paramount Group announced a joint venture with Abu Dhabi - based defence business International Golden Group to market and distribute Paramount Group’s products and services in the United Arab Emirates.[8]

AHRLAC was launched[9] in September 2011 and described by commentators, including the Wall Street Journal, as filling a niche for a versatile, low-cost aircraft.[10] In December 2011, the UK national newspaper The Daily Telegraph reported that the Paramount Group's Wikipedia profile had been edited by accounts linked to Bell Pottinger.[11][12]

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.[13] In September of the same year Paramount Group partnered with Nautic Africa[14] to provide and build vessels to help Africa protect against piracy.

In April 2015 Paramount Group announced the takeover of DCD Protected Mobility (part of South Africa’s DCD industrial and engineering group) took control of the facilities and staff, which are located in Isando in Kempton Park, Johannesburg.[15]

Design and vehicles

Paramount Group’s Marauder featured in an episode of the BBC’s Top Gear programme. Television show presenter Richard Hammond took the vehicle on a test drive[16] in South Africa to put the vehicle through its paces in comparison to a Humvee in a bid to find ‘the world’s toughest car.’ The programme was broadcast in July 2011.

References

  1. ^ "Paramount Group". Retrieved 2016-11-25.
  2. ^ "Defense & Security Intelligence & Analysis: IHS Jane's | IHS". Articles.janes.com. Retrieved 2013-05-12.
  3. ^ ARG. "Matador Mine Resistant Ambush Protected Vehicle". Military-Today.com. Retrieved 2013-05-12.
  4. ^ "Mbombe Paramount Group wheeled armoured fighting vehicle technical data sheet specifications UK - Army Recognition - Army Recognition". Armyrecognition.com. 2012-07-14. Retrieved 2013-05-12.
  5. ^ "Advanced High Performance Reconnaissance Light Aircraft (AHRLAC)". Airforce Technology. 2011-06-15. Retrieved 2013-05-12.
  6. ^ "South Africa Military Defense". CNN. 2016-07-11. Retrieved 2016-08-16.
  7. ^ "Avionics Magazine :: Paramount Group Acquires ATE". www.aviationtoday.com. Retrieved 2016-11-25.
  8. ^ "Paramount Group enters into joint venture with International Golden Group". Strategic Defence Intelligence. Retrieved 2013-05-12.
  9. ^ ":: AAD 2012 :: Africa Aerospace & Defence 2012". Aadexpo.co.za. 2012-07-23. Retrieved 2013-05-12.
  10. ^ Mcgroarty, Patrick (2011-09-27). "Two South African Defense Firms Take Aim at Niche Aircraft Market - WSJ.com". Online.wsj.com. Retrieved 2013-05-12.
  11. ^ "The arms company, the oligarch and the ex-PM's sister-in-law: lobby firm's Wikipedia hit list". The Independent. 9 December 2011. Retrieved 9 December 2011.
  12. ^ Cave, Tamasin; Rowell, Andy (March 24, 2014). "The Corporate PR Industry's Sneaky War on Internet Activism". Vice. Archived from the original on March 25, 2014. Retrieved March 25, 2014. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  13. ^ "Paramount takeover of ATE a done deal". DefenceWeb. 2013-06-06. Retrieved 2013-06-10.
  14. ^ "SA to produce world class naval vessels". www.enca.com. Retrieved 2016-11-25.
  15. ^ Campbell, Keith. "Latest Paramount acquisition marks a major consolidation in the SA defence industry". Engineering News. Retrieved 2016-11-25.
  16. ^ "The Marauder, part 1 (Series 17, Episode 1) - BBC Top Gear". Topgear.com. Retrieved 2013-05-12.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Paramount_Group&oldid=751540032"