Subscribe Free
in Defence / Maintenance

IDEX: Lockheed Martin and SAMI form JV for new Saudi MRO operation

Posted 24 February 2021 · Add Comment

Lockheed Martin and Saudi Arabian Military Industries (SAMI) are to develop a new joint venture in Saudi Arabia to produce, maintain and repair both rotary and fixed-wing aircraft, as well as missile defence systems.

The new venture was signed on the sidelines of the IDEX show in Abu Dhabi.  The Saudi company will own 51% and the American contractor 49%.  Eng. Walid Abukhaled, CEO of SAMI, and Tim Cahill, senior vice president of Lockheed Martin signed the agreement.  

Abukhaled said: “In keeping with the objectives of the Saudi Vision 2030 program, SAMI has been exploring avenues to help build a sustainable, self-sufficient military industries sector in the Kingdom, and our strong and enduring partnership with Lockheed Martin underpins our commitment.

“The agreement to establish a new Joint Venture represents a major step forward to realizing our ambitious goals, and we look forward to tremendous outcomes in the near future. It also supports PIF’s efforts through SAMI in localizing cutting-edge technology and knowledge, as well as building strategic economic partnerships,” he added



Other Stories
Latest News

Airbus deploys mission-critical communication solutions to help secure Hajj

Airbus has secured this years’ Hajj holy pilgrimage in Mecca with its mission-critical communication technologies in Saudi Arabia.

Capital Markets Investors predict more airline bailouts

An overwhelming majority (81%) of capital markets investors expect to see more government support to ensure the survival of regional airlines as carriers struggle to survive the prolonged collapse in demand for air travel resulting

Emirates launches new passenger service to Miami

Emirates is connecting global business and leisure travellers with it's first-ever passenger service between Dubai and Miami.

IATA warns governments on high cost of testing

The International Air Transport Association (IATA) called on governments to take action to address the high cost of COVID-19 tests in many jurisdictions and urged flexibility in permitting the use of cost-effective antigen tests as an

Gulfstream exceeds 500 in-flight connectivity service installations

Gulfstream Aerospace has surpassed 500 installations of the Inmarsat Jet ConneX in-flight connectivity platform on large- cabin aircraft. The Wi-Fi solution is available on new aircraft and can be retrofitted on qualifying existing

Embraer delivered 34 jets in Q2 of 2021

Embraer delivered a total of 34 jets in the second quarter of 2021, of which 14 were commercial aircraft and 20 were executive jets (12 light and eight large).

WDS SK2601090322
See us at
Aviation MENA 2022World Defence Show 2022DAS21_BTAviation Africa 2021 BTOC