Raytheon sets up subsidiary in UAE

US-based Raytheon on Thursday said it has set up Raytheon Emirates, its new, wholly-owned subsidiary, in the United Arab Emirates.

The new entity, incorporated and headquartered in Al Maryah Island, will support the Abu Dhabi Economic Vision 2030 by forming an aerospace and defense business that fosters "cyber-secure digital transformation, contributes to the nation’s economic diversification, and employs a highly-skilled, highly-productive Emirati workforce".

The subsidiary will oversee Raytheon’s business in the UAE, and will operate in the fields of cybersecurity, effectors, air defense and sustainment, and advanced technology.

"The establishment of Raytheon Emirates is a strong step forward in our longstanding alliance with the UAE,” Thomas A. Kennedy, Raytheon chairman and CEO, said in a statement.

Plans to establish operational branches in other areas of Abu Dhabi are underway, the company said, adding that John Brauneis will serve as CEO of Raytheon’s UAE subsidiary.