Idex 2019: Saudi defence firm Sami and L3 to collaborate on projects
Sami is tasked with helping to localise military spending in the country
State-owned Saudi Arabian Military Industries and US defence company L3 Technologies signed a preliminary agreement to explore collaboration on projects related to the electro-optical/infrared (EO/IR) and special mission systems markets in the kingdom.
Sami and L3 will focus on working together on sustaining, training, manufacturing, and research and development, as well as pursuing "strategic opportunities,” Sami said in a statement on Monday. No financial terms were disclosed.
The strategic agreement “with L3 comes as part of our commitment to supporting the objectives of the Saudi Vision 2030, as we work closely to further develop both the sensor and mission systems industry within the kingdom,” said Andreas Schwer, chief executive of Sami. “Over the next 10 years, we envision a provision of comprehensive through-life support for this technology.”
Sami, which is owned by the sovereign wealth fund of Saudi Arabia, was set up in 2017 as part of the kingdom’s Vision 2030 to localise more than 50 per cent of the kingdom’s military spending by 2030. Saudi Arabia is participating in the International Defence and Exhibition Conference (Idex), which is taking place in Abu Dhabi this week.
“Establishing this relationship with Sami is an important part of L3’s international growth strategy,” said Stephen F. O’Bryan, L3’s Senior Vice President and Chief Global Business Development Officer. “By working collaboratively to provide sustainment, training and manufacturing capabilities within the KSA [kingdom of Saudi Arabia], we can significantly broaden our support for Saudi government and military forces.”
Updated: February 18, 2019 03:37 PM