US aviation manufacturer Lockheed takes an equity stake in the Advanced Military Maintenance, Repair and Overhaul Centre
Lockheed takes a stake in Abu Dhabi military maintenance unit
The Advanced Military Maintenance, Repair and Overhaul Centre (AMMROC) announced on Sunday that Lockheed Martin had taken an equity stake in the centre, underpinning its ambitions to become a global leader in military aviation maintenance, repair and overhaul (MRO) services.
The Texas-based aerospace and technology giant joins US peer, Sikorsky Aerospace Services, which holds an equivalent holding in AMMROC, and majority owner, Abu Dhabi Aircraft Technologies (ADAT).
The aggregate investment exceeds US$800 million, AMMROC said, expanding the centre's capabilities while complementing its existing service to customers. Lockheed's addition is expected to bring significant expertise to AMMROC's offering to both the United Arab Emirates (UAE) Armed Forces and military operators in the Gulf.
The deal will see AMMROC provide platform solutions for all fixed and rotary-wing aircraft, thus ensuring aircraft readiness, deployability, improved safety and self reliance.
Homaid Al Shemmari, chairman of ADAT and AMMROC said: "Lockheed's decision to acquire an equity interest in AMMROC is an important component of our plans to create a world class facility that provides a self-sustaining and commercially viable platform for the UAE Armed Forces."
"This is an exciting development in AMMROC's evolution and we are delighted to partner with another global leader in the aerospace industry," Mr Al Shemmari added.