Saudi Arabian Military Industries hasentered into an agreement with Figeac Aero, the French aerospace company
Saudi Arabian Military Industries (SAMI) has announced that it has entered into an agreement with Figeac Aero, the French aerospace company, to establish a metallic aerostructures manufacturing facility in Saudi Arabia.
The deal with Figeac Aero, which specialises in the machining of structural, engine, and precision parts in light alloys and hard metals, was signed at the International Paris Air Show.
The agreement entails setting up a joint venture between SAMI and Figeac Aero to establish the factory, with SAMI holding the majority of shares in the new entity.
The JV will execute contracts relating to the manufacturing of military and commercial aviation metallic components and the project is set to last for two and a half years.
Dr Andreas Schwer, CEO of SAMI, said: “This project represents the backbone of the aircraft manufacturing industries, and will further strengthen our homegrown capabilities, in line with the goals outlined in the Saudi Vision 2030.
"By building a solid foundation for indigenous manufacturing, we will be able to generate significant cost savings while ensuring a safer and more secure future for the kingdom and its people.”
“After four years spent investigating the Saudi ecosystem with several potential partners, we are now convinced that our future joint venture partnership with SAMI will enable Saudi Arabia to develop its own manufacturing capabilities and build their own aeronautics industry and associated supply-chain,” added Jean-Claude Maillard, chairman and CEO of Figeac Aero.
The factory will be located in either Riyadh or Jeddah and its activities will include machining processes such as sheet metal work, surface treatment processes, and sub-assembly work to deliver finished goods to the final customer.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.