(Alliance News) - Civitanavi Systems Spa on Thursday announced a new letter of intent signed with Hanwha Systems Co, Ltd, a Korean company active in the fields of design, development, production and sales of electro-optical systems for aerial, naval and land platforms. The collaboration aims to develop cutting-edge products that integrate Civitanavi's expertise in GNSS and inertial navigation systems with HSC's products.

Andrea Pizzarulli - ceo of Civitanavi Systems - commented, "This collaboration with HSC creates the conditions to become the partner of choice in inertial navigation technology within HSC's products. The agreement will enable both companies to explore opportunities for cooperation in the aerospace and defense industry to identify key markets and develop cutting-edge applications that can continuously innovate our industry through the creation of next-generation technologies."

Civitanavi Thursday is in the green 1.1 percent to EUR3.70 per share

By Maurizio Carta, Alliance News reporter

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