The Australian government will buy defence radar system manufacturer CEA Technologies, in a move Defence Minister Richard Marles says will safeguard the supply chain for radar technologies.
CEA has operated for 40 years, has over 600 staff, and develops cutting-edge radar systems for major naval vessels.
From July 2023, the Commonwealth will hold a non-controlling stake in the company for 18 months before it shifts to a majority stake and CEA becomes a Government Business Enterprise.
The Labor government says the company will continue to operate at arm’s length and independent from political leaders.
“Today’s landmark agreement secures the longevity of this Australian company and guarantees the supply of critical radar systems for the ADF, now and into the future,” said Defence Minister Richard Marles in a statement on April 27….