Celsius and the South African Grintek Group form a joint venture in electronic warfare
;Celsius of Sweden and the Grintek Group of South Africa are forming a joint venture, to be known as Avitronics (Pty.) Ltd. This agreement establishes a strong company that will be a frontrunner in equipment for warning, threat evaluation and countermeasures against missiles. A collaboration agreement has been signed between Avitronics and Celsius' business unit, CelsiusTech Electronics. ;Celsius acquires a 49-percent interest in the company, while the Grintek Group retains a 51-percent interest. ;This historic agreement was signed today in Pretoria, South Africa, by Grintek's chairman Zoli Kunene, and Celsius' CEO Lars G. Josefsson. ;We are very pleased to have reached this agreement. Grintek will strengthen its position significantly, partly through access to Celsius' know-how and experience, and partly from broader exposure via Celsius' global marketing network," states Zoli Kunene, commenting on the agreement. Celsius' CEO Lars G. Josefsson says: ;"This is an important step forward for Celsius, fully in line with our declared strategy as a global player. We shall jointly consolidate our position on current markets by virtue of the fact that the new company will provide a much broader product and knowledge base. We shall thereby increase our chances of penetrating new markets." ;"The new company will be a leading player in electronic warfare, an area that is gaining increasing significance with respect to the high-tech defence forces of the future," adds Lars G. Josefsson. ;Celsius and Grintek serve complementary markets. Together they will also be able to offer the market electronic warfare protection on a greater number of aircraft, ships and army vehicles. ;A collaboration agreement is being signed between Celsius' business unit CelsiusTech Electronics and Avitronics. ;CelsiusTech Electronics develops and manufactures advanced electronic systems, mainly for defence applications. Operations focus primarily on electronic countermeasures, sensors, fire-control and stealth technology, areas of increasing importance to tomorrow's high-tech armed forces.
" Celsius and the South African Grintek Group form a joint venture in electronic warfare