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SEATTLE, March 30, 2018 /PRNewswire/ — In band with Saudi Arabia’s Eyes 2030 and afterward the advertisement of HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Chairman of the Council of Ministers and Minster of Defense, Saudi Arabian Aggressive Industries (SAMI) and Boeing (NYSE: BA) today active a Memorandum of Acceding (MoA) to advance a new collective adventure (JV). The signing commemoration came in affiliation with HRH Prince Mohammed bin Salman’s appointment to Seattle, which included an official appointment and bout of Boeing’s aircraft accomplishment facilities. The acceding was active by H.E. Ahmed Al-Khateeb, Chairman of SAMI, and Dennis Muilenburg, Chairman, President, and CEO of Boeing, at Boeing’s address in Seattle.

Commenting on this important milestone, H.E. Ahmed Al-Khateeb, Chairman of SAMI, said, “Boeing has a abiding charge to Saudi Arabia, and is acutely agog on accretion its brand in the country. Inspired by the eyes of HRH Prince Mohammed bin Salman, SAMI, on the added hand, is exploring all collaborative opportunities to body a able free aggressive industries ecosystem in the Kingdom.”

The collective adventure acceding will accommodate alimentation casework for fixed- and rotary-wing aggressive aircraft of the Kingdom’s aegis services, and will be the sole provider of these ‎services for all aggressive aerodynamics platforms of ‎the KSA aggressive fleet. The JV will additionally access the localization of Maintenance, Repair and Overhaul casework (MRO), deepening the Kingdom’s aegis capabilities and acceptable its bridle potential. The acceding will alteration technology to install ammunition on these aircraft as able-bodied as localize the accumulation alternation for additional genitalia in the Kingdom.

“We acutely acknowledge the assurance that the Kingdom of Saudi Arabia in general, and HRH Prince Mohammed bin Salman personally, are acceding in Boeing to advice bear Eyes 2030 with this new collective venture,” said Dennis Muilenburg, Boeing Chairman, President, and CEO. “Our accord with the Kingdom dates aback added than 70 years, and we attending advanced to continuing our acknowledged affiliation in abutment of the Kingdom’s civic aegis and aerospace industry needs.”

The MoA will added coalesce the constant accord amid Boeing and Saudi Arabia and aftereffect in the development of bounded research, design, engineering, manufacturing, and MRO capabilities. The JV will continuously advance achievement and growth, advancement the address of the Saudi aggressive fleet, enhance aliment capabilities, and abate abutment costs throughout the fleet’s life. In addition, the acceding will actualize 6,000 jobs and training opportunities for Saudi youth, abutment bounded development, and augment the accord of Saudi nationals in the industry, accidental appear the objectives of the Kingdom’s absolute Eyes 2030 plan.

Muilenburg added, “With this bounded adequacy committed to comestible all U.S.-made aegis platforms, we can bigger serve our barter and abutment the Kingdom’s goals of localization and bread-and-er growth.”

Dr. Andreas Schwer, CEO of SAMI, added, “The acceptation of the MoA, which is active today, will accredit SAMI and Boeing to comedy a key role in arch and laying the basal framework for Saudi’s aegis area industrialization, in band with the goals of the Kingdom’s Civic Transformation Program and Eyes 2030. In accession to bounded alimentation capabilities, the assured affiliation amid the two companies could analyze the conception of bookish acreage as well.”

The JV will accommodate a foundation for approaching belvedere sales and for accretion Boeing’s attendance in the Kingdom to abutment bazaar advance in both the bartering and aegis sectors.

Boeing’s affiliation with Saudi Arabia dates aback added than 70 years and is growing from backbone to strength. It began on February 14, 1945, back U.S. President Franklin D. Roosevelt presented a twin-engine Dakota DC-3 aeroplane (manufactured by Boeing’s ancestry aggregation Douglas Aircraft) to King Abdulaziz Al Saud: this accident additionally apparent the bearing of bartering air biking in the Kingdom. Once the MoA is operational, the collective adventure will accessible a new affiliate of accord and addition in this longstanding partnership. 

View aboriginal content:https://www.prnewswire.com/news-releases/saudi-arabian-military-industries-and-boeing-form-joint-venture-partnership-300622404.html

SOURCE Royal Embassy of Saudi Arabia, Information Office

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