Skip to content Skip to Search
Skip navigation

UAE’s Edge Group buys stake in tear gas manufacturer

Executives from the UAE's Edge Group and Brazil's Condor sign the stake acquisition deal Edge
Executives from the UAE's Edge Group and Brazil's Condor sign the stake acquisition deal

The UAE’s state-owned defence company Edge Group has acquired 51 percent of a Brazilian company which specialises in the manufacture of non-lethal technologies (NLT) such as tear gas and rubber bullets.

Condor Non-Lethal Technologies (Condor) has presence in more than 85 countries and is the world’s largest producer of tear gas and related products for military, civil defence, military and public security scenarios. 

The value of the deal was not given.

Condor has a portfolio of more than 160 non-lethal technologies (NLT) products, including controlled impact rubber ammunition, smoke grenades, explosive and smoke hand grenades, pyrotechnics, tactical operation kits, sprays, and drones with chemical irritant agents.

The companies will work to expand market share in different NLT segments globally and enter new strategically important markets such as the US. 

“This is a hugely significant development for Edge,” said group managing director and CEO Hamad Al Marar.

The global market in NLTs was worth nearly $6 billion in 2023 and is expected to grow significantly by the end of the decade, the statement said.

Latest articles

Qatar Rwandair

South African Airways denies talks with Qatar Airways

South African Airways has denied it is talking to Qatar Airways about an equity injection, as observers suggest RwandAir is the Qatari carrier’s most likely target. Qatar Airways’ CEO Badr Mohammed Al Meer set rumours racing earlier this month when he revealed that the state-owned airline was “at the final stage of an equity investment” […]

The twisted Cayan Tower in Dubai Marina is among Drake & Scull's projects

Drake & Scull International shares up by 24% as trading resumes

Shares in Drake & Scull International rose by 24 percent on Wednesday as the troubled contractor resumed trading on Dubai Financial Market following a six-year suspension. DSI stock ended Wednesday at AED0.31, having started the day at AED0.25 – the price at which it sold AED450 million ($123 million) of shares earlier this month as […]

Emirates Airline cabin crew. The Investment Corporation of Dubai owns the airline and has a significant stake in Dubai's biggest bank Emirates NBD

Dubai wealth fund reports record net profit for second year running

Investment Corporation of Dubai, the Dubai government’s main investment unit, has reported a record annual net profit. Earnings were bolstered by higher interest rates and a resurgent aviation sector. ICD owns Emirates and FlyDubai airlines, travel agency Dnata, Emirates National Oil Company (Enoc) and stock exchange operator Borse Dubai.  It also holds sizeable stakes in […]

United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan, South Korean President Yoon Suk Yeol and his wife Kim Keon Hee watch the Black Eagles, the aerobatic team of T-50 jets belonging to South Korea's air force, during a welcoming ceremony at the Presidential Office in Seoul on May 29, 2024. JUNG YEON-JE/Pool via REUTERS

Trade deal signed during UAE state visit to South Korea

The UAE has signed a trade agreement with South Korea during a two-day state visit by the Emirati president, Sheikh Mohamed bin Zayed Al Nahyan, that has resulted in deals worth billions of dollars being struck between the two countries. The UAE has become the first Arab country to formally sign a comprehensive economic partnership […]