L3 Technologies, Saudi Arabian Military Industries enter into joint venture:
20 November 2019: L3 Technologies has signed a joint venture agreement with Saudi Arabian Military Industries (SAMI) to work together on electro-optical and infrared (EO/IR) and special mission systems projects within the Kingdom of Saudi Arabia (KSA).
The contract was signed at the SAMI Chalet during the Paris Air Show on 18th June.
L3 and SAMI had announced the signing of a Memorandum of Understanding (MoU) relating to the joint venture in February 2019.
"Through this partnership, L3 will further establish a long-term presence within the KSA," said Christopher E. Kubasik, L3's Chairman, Chief Executive Officer and President. "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."
"We are pleased to partner with L3 as we move towards our goal of creating a Center of Excellence in the Kingdom," said H.E. Ahmed Al-Khateeb, Chairman of SAMI. "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."
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