New York-based L3 Technologies says it has signed a joint venture agreement with Saudi Arabian Military Industries
L3 Technologies has announced that it has signed a joint venture agreement with Saudi Arabian Military Industries (SAMI) to collaborate on mission systems projects in the Gulf kingdom.
The contract was signed during the Paris Air Show by Ahmed Al-Khateeb, chairman of SAMI, and Christopher E Kubasik, L3’s chairman, CEO and president.
In February, L3 and SAMI announced the signing of a memorandum of understanding relating to the joint venture.
“Through this partnership, L3 will further establish a long-term presence within Saudi Arabia,” said Kubasik.
“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.”
Al-Khateeb added: “We are pleased to partner with L3 as we move towards our goal of creating a Centre 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 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.
Together, L3 and SAMI said they will design and implement these advanced technologies and solutions for a variety of customer-specific applications from a Center of Excellence that will be established in Saudi Arabia.
With headquarters in New York City and approximately 31,000 employees worldwide, L3 reported 2018 sales of $10.2 billion.For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.