Hannes Snellman Counsel to Lockheed Martin on Its New UAE Joint Venture
Hannes Snellman acted for Lockheed Martin (NYSE: LMT) in connection with the structuring and negotiation of its investment in Exechon Enterprises L.L.C., based in the United Arab Emirates. Hannes Snellman advised in particular on Swedish and Finnish law aspects of the acquisition of the assets and undertaking of Swedish company, Exechon AB, an investor in the new joint venture company.
Exechon Enterprises will establish an engineering and manufacturing center of excellence for Parallel Kinematics Machining (PKM) in the aerospace, defense and automotive sectors, as well as other industrial areas. It will also create an Application and Technology Development Center in collaboration with local industry and academia, establishing the UAE as the leading supplier of this cutting-edge automated manufacturing technology.