Bloomberg: Islamic State War Boosts Biggest Private African Arms Maker
(Bloomberg) -- Islamic State’s expansion is causing instability from Basra to Beirut. It’s also boosting business for Ivor Ichikowitz, the founder of Africa’s biggest privately owned arms company.
Ichikowitz’s Paramount Group, which sells products ranging from naval patrol vessels to refitted Mirage fighter jets, last month won an order to sell 50 armored vehicles worth more than $1 million each to Jordan. He expects more business to follow with Middle Eastern governments looking to bolster their defenses as the Islamist militant group battles state forces in at least three countries and threatens to invade more.
While the U.S. is leading air strikes against Islamic State in Iraq and Syria, its limited involvement in ground operations compared with previous operations in Iraq and Afghanistan is creating opportunities for Paramount as governments arm themselves, he said.
WNU Editor: The arms trade is unfortunately a fact of life for mankind ... especially in conflict zones like Africa and the Middle East. What is unique about this story is that some African firms are now positioining themselves to "take advanatge of this".
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