Boeing in Saudi Arabia for the long haul |
Helen Chachaty |
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25 APR 2018 | 162 words
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Boeing is making itself comfortable in Saudi Arabia, signing an agreement with SAMI (Saudi Arabian Military Industries) to create a joint enterprise to target "over 55%" of fixed wing and rotary aircraft maintenance operations for the territory's armed forces.
This partnership was made official in Seattle last month, during a visit by the crown prince of Saudi Arabia Mohammed Ben Salman. According to the American aircraft manufacturer, the partnership comes with a technology transfer, the creation of some 6000 jobs and the constitution of a dedicated supply chain for spare parts.
The SAMI State-owned company was founded in May 2017 to accompany the "Vision 2030" plan which seeks in particular to inject 50% of military expenditure into the national territory and so into Saudi businesses and joint enterprises by 2030.
Its CEO is none other than Andreas Schwer, who was appointed to this position last autumn after previously serving as chairman of the board of the German industrial company Rheinmetall.
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