Taurus on Thursday ended negotiations on a possible joint venture with Scopa Military Industries for the manufacture of Taurus weapons in Saudi Arabia and marketing throughout the Gulf Cooperation Council (GCC) region, said the Brazilian company in a relevant fact.
“The continuity of the project would depend on a technical, commercial and strategic feasibility analysis, as well as a commitment to the minimum purchase of the Saudi government, which did not happen,” said Taurus, one of the largest arms manufacturers in the world, announcing the conclusion of the feasibility studies provided for in the non -binding understanding celebrated with Scopa in July 2023.
However, the company said it does not rule out the evaluation of new opportunities in the GCC region-whose member countries are Saudi Arabia, Barein, Qatar, United Arab Emirates, Kuwait and Oman-if “more favorable conditions” appear.
