The Global CEO of Taurus, Salesio Nuhs, following up on the Brazilian multinational’s strategic plans to expand its business and increase its participation in the Middle East, met last Wednesday (07.feb.2024) at the headquarters of SCOPA MILITARY INDUSTRIES, in Riyadh, Saudi Arabia, with the president and founder of the company Sheikh Mohammad bin Abdulaziz Alajlan, who is also vice-president of the Ajlan & Bros Group, to discuss in greater depth the setting up of a joint venture in the region, among other matters.
The meeting was also attended by the CEO of the SCOPA Group, Fawaz Fahad Alaqeel, the vice president of Business Development, Faisal bin dos, and the vice president of Munitions, Eduard Kukharchuk, as well as Taurus’ Supply Chain director, Eduardo Minghelli, and Taurus’ International Sales manager, Regis Jacobsen.
The meeting was very productive and objective, resulting in the definition that a business plan will be drawn up and presented in approximately 30 days. The joint venture agreement, if signed, is expected to be signed at the end of June 2024.
In the view of Taurus’ Global CEO, Salesio Nuhs, the interests are quite convergent and the expectation of a sense of urgency in setting up this business is very much in line with Sheikh Mohammad bin Abdulaziz Alajlan.
“The teams will now work with a focus on developing and delivering the business plan in 30 days. And we are moving towards probably signing the joint venture agreement by June 30, if that is achieved. During this period, SCOPA will continue to act as an agent and distributor for Taurus to explore business opportunities with the police and military forces in the region,” says Salesio Nuhs.
The aim of the joint venture, if all the statutory and legal authorizations are obtained, will be to manufacture Taurus weapons in the Kingdom of Saudi Arabia and market them throughout the GCC (Gulf Cooperation Council) region, which includes the following countries: Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, Kuwait and Oman.
If implemented, the partnership also seeks to meet a series of programs in the Saudi Vision 2030 project, which aims for a comprehensive and ambitious position for the Kingdom of Saudi Arabia by the year 2030, with various strategic fronts to promote economic and social development in the region, especially in the area of defense.
Taurus’ Global CEO, Salesio Nuhs, also met with the Saudi Arabian Ministry of Investment (MISA) on February 7. On the occasion, the Ministry’s executives made it very clear that they are willing to provide all the support for investments that may be necessary for the possible creation of a joint venture in the country. Taurus recently signed a memorandum of understanding (MoU) with the Saudi Ministry of Investment and the General Authority for Military Industries (GAMI) – responsible for regulating, enabling and licensing Saudi Arabia’s defense sector.
In addition, Taurus is an exhibitor at the World Defense Show 2024, one of the main global exhibitions in the defense sector, which takes place from February 4 to 8 in Riyadh, Saudi Arabia. The company’s participation in the event is proving to be a great success, fulfilling the objective of publicizing the technological and innovation expertise of the Defense and Security Industrial Base (BIDS), promoting strategic partnerships and boosting future business opportunities for Brazil.
Taurus’ commercial strategy continues to focus on opportunities in international markets, in addition to the United States, the world’s largest arms market and, consecutively, for Taurus. Saudi Arabia is on the list of the five largest military expenditures in the world and is considered one of the countries that invests the most in defense.