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

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