Thursday 17 October 2019

Officials at the signing ceremony

L3 Technologies, Sami enter into JV for key projects

RIYADH, June 19, 2019

US-based L3 Technologies has signed a joint venture agreement with Saudi Arabian Military Industries (Sami) to collaborate on electro-optical and infrared (EO/IR) and special mission systems projects within Saudi Arabia.

The contract was signed on June 18 in the Sami Chalet during the Paris Air Show in France, by Ahmed Al-Khateeb, chairman of Sami, and Christopher E Kubasik, L3’s chairman, CEO and president, said a statement.

In February, L3 and Sami announced the signing of a memorandum of understanding (MoU) relating to the joint venture, it said.

Kubasik said: “Through this partnership, L3 will further establish a long-term presence within the kingdom.”

“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,” he added.

Al Khateeb said: “We are pleased to partner with L3 as we move towards our goal of creating a Center 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,” he said.

L3 Technologies designs and manufactures industry-leading multi-spectral and multi-sensor EO/IR imaging and targeting sensor systems in addition to fully customisable mission systems for air, land and maritime vessels.

Together, L3 and Sami will indigenously 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 the kingdom, it stated. – TradeArabia News Service


More Industry, Logistics & Shipping Stories

calendarCalendar of Events