SAMI acquires majority stake ownership of AACC

450 views
Sami

RIYADH — The Saudi Arabian Military Industries (SAMI) has announced acquiring majority stake ownership of the Aircraft Accessories and Components Company (AACC), which will help it expand the scope of services it is providing, invest in national capabilities and access new markets.

This move comes within the sphere of its continuous initiatives to support the efforts to localize the defense sector in the Kingdom.

AACC’s work focuses on maintenance, repair and overhauling of aircraft hydraulic systems and secondary energy systems for multi-platforms.

After acquiring majority stake ownership by SAMI, the scope of operations of AACC will be expanded to cover the repair and overhauling of civilian aircraft landing gear, increasing the NDT (Nondestructive Tests) capabilities, enhancing the capabilities for maintenance of helicopters, in addition to other services.

This will enable the company to expand its services to cover the Middle East and North Africa (MENA) markets.

SAMI CEO Dr. Andreas Schwer said that SAMI’s acquisition of the majority stake in AACC is a basic factor in the strategic development of SAMI.

He added: “We have promising opportunities in the maintenance, repair and overhauling market, as all the basic tools are available. In the near future, we will work on adding the maintenance, repair and overhauling of landing gear to the services provided by AACC.”

AACC CEO Dr. Mansour Al-Eid said: “SAMI acquiring the majority stakes in AACC is an important step on the track of the company’s development, as it will enable the company to expand the scope of its services, invest in national capabilities, have access into new markets, develop its client service capabilities and invest in the manufacture of aircraft spare parts.”

Dr. Al-Eid said the aviation industry in the Kingdom is prospering with the establishment of SAMI and the General Authority for Military Industries (GAMI). The two entities will contribute to localization of military capabilities, investing in building national capabilities, creating jobs for citizens, and with the collective efforts of the national companies, it will strive to achieve the goals of the Kingdom’s Vision 2030.

Recently, an agreement was reached between AACC and the Saudi Royal Air Forces for overhauling and purchase of landing gear for Multi Role Tanker Transport (MRTT), which is an aerial refueling tanker aircraft based on the civilian Airbus A330.

At present, the AACC is carrying out the overhauling of landing gear for military aircraft and it cooperates with Safran Landing Systems, which is deemed the world’s pioneering company in the field of aircraft landing and braking systems.

This is with the objective of developing its capabilities in overhauling civil aircraft landing gear in the Gulf, Middle East and North Africa (MENA) region. This project will be the foundation stone for developing this capability and it will open the region’s markets to the company.

Since the establishment of SAMI in mid-2017, it has succeeded in developing its services in the field of air and ground systems (including defense vehicles), defense electronics (including maritime systems), weapons and missiles. To guarantee carrying out all functions for the better, AACC will become a part of the Air Systems Unit in SAMI, whose headquarters will be in Jeddah.

Through its effective contribution to achieving the goals of Vision 2030, SAMI plays a major role in localizing the gross local military spending with the objective of increasing local purchases by 50 percent by 2030. This is with its long-term goal to become one of the best 25 companies specializing in military industries at the world level. — SPA


450 views