RÁBA Plc. Memorandum of Understanding with Turkish Firm

RÁBA Automotive Holding Plc. has informed the participants of capital markets on the website of the Budapest Stock Exchange that on October 31, 2023, a Memorandum of Understanding was signed by RÁBA Plc. and Nurol Makina, “an internationally significant Turkish defense company,” with the purpose of considering the establishment of a joint venture for joint manufacturing cooperation.

N7 Holding Plc. and the Hungarian subsidiary of Nurol Makina are also participants in the Memorandum of Understanding and the planned cooperation. The Memorandum of Understanding has been countersigned supportively by the Hungarian Ministry of Defense.

The signature of the Memorandum of Understanding is in compliance with the strategy of RÁBA Plc., the statement says.

According to the Memorandum of Understanding, relying on Rába’s special assembling, production and testing competencies, the joint venture would assemble military vehicles with the greatest possible domestic added value and Hungarian supplying content, first of all for Hungarian Defense Forces.

With decades of experience and well-established international relationships, Rába has become an expert in the field of special defense vehicles. Thanks to this cooperation, Rába can once again stand for the service of the Hungarian defense, the announcement concludes.