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4IG PLC Create Space Subsidiary and Acquire Stake in REMRED

Credit: 4IG PLC

Ibadan, 22 February 2024. – Hungarian Group 4IG PLC has established 4iG Space and Technology Zrt as a subsidiary, transferring its space and technology interests into the new company to exploit global growth opportunities more effectively. As a result, 4iG Space and Technology Zrt will now be responsible for managing space and satellite manufacturing, autonomous aircraft development and manufacturing, drone defence, defence industry digitalization services, and business strategy of the companies.

Concurrently with the formation of its space and technology company, 4iG Plc has also entered into a preliminary agreement to acquire a 45% stake in REMRED, a Hungarian aerospace company with nearly 50 years of space engineering know-how and heritage. 4iG Plc will subsequently transfer the stakes to 4iG Space and Technology Zrt by way of a capital increase following its formation.

In the meantime, REMRED is looking to expand its capacity by constructing a 4,000-square-meter space technology center capable of manufacturing, assembly, integration, and testing of space systems and satellites weighing up to 400 kg, to meet the growing needs of the sector. The Company plans to locate the space technology center at Martonvásár, near Budapest and will design it with modularity in mind.

Speaking about the expansion plans, Gellért Jászai, Chairman of 4iG Group, commented, “We foresee tremendous growth potential in the space and technology domain, and 4iG Group identified significant return potential through the exploitation of the sector.”

The Chairman also added, “Development and production of satellites, related communication and Earth Observation services, UAV and anti-drone technologies, and the digitalization of the defence sector are innovative areas that will further strengthen our Group’s technological capabilities in order to meet our strategic objectives developed together with Rheinmetall.

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