The Saudi Arabian Military Industries Corporation, SAMI, which is wholly owned by the Public Investment Fund, and the US “Lockheed Martin” company today announced the signing of a strategic agreement to establish a joint project for cooperation between the two companies on in the field of improving the defense and security capabilities of the Kingdom, supporting its productive capacity, and contributing to the achievement of economic development objectives within 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 the CEO of SAMI, Eng. Walid Abu Khaled, and Timothy Cahill, Senior Vice President of Lockheed Martin for the International Sector.
Under the agreement, SAMI will own 51% of the alliance’s shares, compared to 49% for Lockheed Martin, while the new agreement will develop localization capabilities by transferring technology and knowledge, and training Saudi cadres in product production and provide services to the Saudi Armed Forces.
The CEO of SAMI, Eng. Walid Abu Khaled, said: “In line with the objectives of the Vision of the Kingdom 2030, we at SAMI are exploring areas of cooperation that will help us build a sustainable and independent sector of military industry in the UK. Our strengths Long-term partnership with Lockheed Martin confirms our full commitment, as the joint venture agreement is an important step in our journey to achieve our ambitious goals, and we look forward to achieving great results in the very near future. This partnership will also contribute to the realization of the efforts of the Public Investment Fund through SAMI in locating the latest technologies and knowledge, such as building strategic economic partnerships. “
For his part, Senior Vice President at Lockheed Martin International, Timothy Cahill, said: “Today we are laying a key cornerstone in our strategic relationship with SAMI, which is part of our long-term commitment to support the UK’s plans for localization and economic growth.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 fixed wing helicopters and aircraft, missile defense systems and ship systems,
The headquarters of the international company specializing in security and space industry, “Lockheed Martin”, is located in Bethesda, Maryland, US, while it has had a presence in the Kingdom of Saudi Arabia since 1965, since it supplied the first group militarily. transport device “C-130” Hercules C-130.
Since then, the company has continued to support the UK in the areas of integrated air and missile defense systems, tactical and vertical aircraft technologies, marine systems and satellite communications systems. Lockheed Martin has strengthened its presence in the Kingdom through training initiatives that have contributed to stimulating and honing the talents of the generation. Following on from talented Saudi cadres, who ensure the sustainability of the aviation and defense sector, and support the achievement of the Kingdom’s Vision 2030 objectives.