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Thursday, 20 June, 2019 - 09:30
Paris - Asharq Al-Awsat
Saudi Arabian Military Industries (SAMI) has signed a joint venture agreement with L3 Technologies to collaborate on electro-optical and infrared (EO/IR) and special mission systems projects.
The contract was signed, during the Paris Air Show in France, by Ahmed al-Khateeb, chairman of SAMI, and Christopher E. Kubasik, L3’s chairman, CEO, and president.
Kubasik said: “Through this partnership, L3 will further establish a long-term presence within the kingdom.”
“This venture with SAMI, which includes research and development, manufacturing, training and sustainment activities, represents a key milestone in the further development and execution of L3’s international growth strategy,” he added.
For his part, Khateeb said: “We are pleased to partner with L3 as we move towards our goal of creating a Center of Excellence in the kingdom.”
“As we continue to support objectives tied to Saudi Vision 2030, this long-term partnership with L3 will help grow the sensor and mission systems industry while creating a comprehensive through-life support structure for our military customers.”
L3 Technologies designs and manufactures industry-leading multi-spectral and multi-sensor EO/IR imaging and targeting sensor systems in addition to fully customizable mission systems for air, land and maritime vessels.
Further, SAMI signed a MoU with ST Engineering to identify and explore business opportunities in Saudi Arabia to collaborate in the sectors of the systems of land, aviation, marine, electronics, weapons and ammunition as well as future systems.
Andreas Schweer, CEO of SAMI, said that the signing of MoU with ST Engineering is part of SAMI’s strong commitment to building and strengthening industrial partnerships to boost the momentum of Saudi Arabia’s transformation towards localization of half of its military spending as well as to increase the local production in the defense sector.
“We are keen on increasing exports and attracting foreign direct investments as targeted in the Vision 2030. We are desirous to take advantage of the expertise and capabilities of ST Engineering Group so as to contribute to our overall goal of establishing a sustainable military industry sector in the Kingdom,” he stated.
On his part, Vincent Chong, CEO of ST Engineering, said that his group is delighted to have signed a MoU with SAMI, which enhances the efforts of the two companies to explore ways of working together to help modernize and strengthen Saudi Arabia’s defense capabilities.
“We are confident that we will be able to identify areas where ST Engineering can provide strong and valuable support to our customers,” he added.
The MoU, which was signed on the sidelines of the Paris Air Show, provides for the Terrex 2 (8 x 8) wheeled armored platform for Saudi Royal Land Forces, the development of the new generation of the Infantry Fighting Vehicle and the prospect of cooperation to develop maintenance and repair capabilities for commercial and military customers, as well as studying the scope of participation in the promotion and development of new C130 aircraft, and assisting in the modernization of the Saudi electronics industry.
https://aawsat.com/english/home/article/1776266/sami-l3-technologies-enter-joint-venture-agreement
Paris - Asharq Al-Awsat
Saudi Arabian Military Industries (SAMI) has signed a joint venture agreement with L3 Technologies to collaborate on electro-optical and infrared (EO/IR) and special mission systems projects.
The contract was signed, during the Paris Air Show in France, by Ahmed al-Khateeb, chairman of SAMI, and Christopher E. Kubasik, L3’s chairman, CEO, and president.
Kubasik said: “Through this partnership, L3 will further establish a long-term presence within the kingdom.”
“This venture with SAMI, which includes research and development, manufacturing, training and sustainment activities, represents a key milestone in the further development and execution of L3’s international growth strategy,” he added.
For his part, Khateeb said: “We are pleased to partner with L3 as we move towards our goal of creating a Center of Excellence in the kingdom.”
“As we continue to support objectives tied to Saudi Vision 2030, this long-term partnership with L3 will help grow the sensor and mission systems industry while creating a comprehensive through-life support structure for our military customers.”
L3 Technologies designs and manufactures industry-leading multi-spectral and multi-sensor EO/IR imaging and targeting sensor systems in addition to fully customizable mission systems for air, land and maritime vessels.
Further, SAMI signed a MoU with ST Engineering to identify and explore business opportunities in Saudi Arabia to collaborate in the sectors of the systems of land, aviation, marine, electronics, weapons and ammunition as well as future systems.
Andreas Schweer, CEO of SAMI, said that the signing of MoU with ST Engineering is part of SAMI’s strong commitment to building and strengthening industrial partnerships to boost the momentum of Saudi Arabia’s transformation towards localization of half of its military spending as well as to increase the local production in the defense sector.
“We are keen on increasing exports and attracting foreign direct investments as targeted in the Vision 2030. We are desirous to take advantage of the expertise and capabilities of ST Engineering Group so as to contribute to our overall goal of establishing a sustainable military industry sector in the Kingdom,” he stated.
On his part, Vincent Chong, CEO of ST Engineering, said that his group is delighted to have signed a MoU with SAMI, which enhances the efforts of the two companies to explore ways of working together to help modernize and strengthen Saudi Arabia’s defense capabilities.
“We are confident that we will be able to identify areas where ST Engineering can provide strong and valuable support to our customers,” he added.
The MoU, which was signed on the sidelines of the Paris Air Show, provides for the Terrex 2 (8 x 8) wheeled armored platform for Saudi Royal Land Forces, the development of the new generation of the Infantry Fighting Vehicle and the prospect of cooperation to develop maintenance and repair capabilities for commercial and military customers, as well as studying the scope of participation in the promotion and development of new C130 aircraft, and assisting in the modernization of the Saudi electronics industry.
https://aawsat.com/english/home/article/1776266/sami-l3-technologies-enter-joint-venture-agreement
