Rába, Nurol Makina Set up JV

Automotive

Hungary's Rába Vehicle and Nurol Makina Hungary, the local unit of Turkish defense industry company Nurol Makina, signed documents on Monday necessary for the establishment of a joint venture: Gidran Armored Vehicles, Rába Automotive Holding announced.

The documents were signed after details of cooperation outlined in a memorandum of understanding signed in October were hammered out.

The aim of the JV is to develop assembly and production capacities for 4x4 Gidran armored vehicles in Hungary at the RABA group with the "greatest possible" domestic added value and Hungarian content, primarily for the Hungarian Defense Forces.

The JV agreement was countersigned by Rába Automotive Holding, Nurol Makina, Hungary's N7 Holding National Defence Industry Innovation Company, and the Ministry of Defense.

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