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The Saudi Arabian Military Industries Corporation, SAMI, 100% owned by the Public Investment Fund, and the US company “Lockheed Martin” today announced the signing of a strategic agreement aimed at establishing a joint cooperation project between the two companies in the area of strengthening the Kingdom’s defense and security capabilities, supporting its manufacturing capabilities and contributing to the achievement of economic development goals as part of the Kingdom’s Vision 2030.
The agreement was signed on the sidelines of the International Defense Exhibition and Conference (IDEX) in Abu Dhabi, and was signed by SAMI CEO, engineer Walid Abu Khaled, and Timothy Cahill, senior vice president of ” Lockheed Martin for the International Sector “.
Under the deal, SAMI will own 51% of the shares in the joint venture, compared to 49% for Lockheed Martin, while the new deal will develop localization capabilities by transferring technology and knowledge, and training Saudi executives in manufacturing products and providing services for Saudi Arabia. armed forces.
SAMI CEO Engineer Walid Abu Khaled said, “In line with the goals of the Kingdom Vision 2030, we at SAMI are exploring areas of cooperation that help us build a sustainable and self-sufficient military industries sector in the kingdom. Our strong and long-term partnership with Lockheed Martin confirms our full commitment, as the joint venture agreement is a major milestone on our journey towards achieving our ambitious goals, and we look forward to seeing tremendous results in the near future. to come up. This partnership will also contribute to the realization of the efforts of the Public Investment Fund through SAMI in the localization of the latest technologies and knowledge, as well as the construction of strategic economic partnerships. “.
For his part, Lockheed Martin International Senior Vice President Timothy Cahill said, “Today we are laying an important cornerstone in our strategic relationship with SAMI, which is part of our long-term commitment to support location and economic plans of the Kingdom. As part of Lockheed Martin’s strategy to expand our partnership with the Kingdom of Saudi Arabia by providing certified defense and security solutions that will support security and prosperity for decades to come.
The SAMI-Lockheed Martin joint venture aims to develop capabilities in the areas of manufacturing technology, software technology and systems integration, as well as in the production, maintenance and repair of helicopters and fixed-wing aircraft, missile defense systems and onboard systems. .
The headquarters of the international company specializing in the security and space industries, “Lockheed Martin”, is located in Bethesda, Maryland, United States, while it has been present in the Kingdom of Saudi Arabia since 1965 , since he delivered the first group of soldiers. “C-130” Hercules C-130 transport aircraft.
Since then, the company has continued to support the Kingdom in the areas of integrated air and missile defense systems, tactical and vertical aviation technologies, naval systems and satellite communication systems. Lockheed Martin has strengthened its presence in the Kingdom through training initiatives that have helped nurture and develop the talents of the generation. The next of the talented Saudi executives, who ensures the sustainability of the aviation and defense industry and supports the achievement of the goals of the Kingdom’s Vision 2030.
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