PARIS --- Saudi Arabian Military Industries (SAMI) announced that it has entered into a Memorandum of Agreement (MoA) with Figeac Aéro, a world-class French aerospace company specialized in the machining of structural, engine, and precision parts in light alloys and hard metals.
The agreement was signed at the International Paris Air Show, the world's premier and largest event dedicated to the aviation and space industries taking place at Paris Le Bourget Exhibition Centre, Paris.
The agreement entails setting up a joint venture between SAMI and Figeac Aéro to establish a metallic aerostructures manufacturing facility in Saudi Arabia. SAMI will hold the majority of shares in the new entity, which will execute contracts relating to the manufacturing of military and commercial aviation metallic components. The project is set to last for two and a half years.
Dr. Andreas Schwer, CEO of SAMI, said: "We are pleased to collaborate with a company of Figeac Aéro's reputation, and look forward to working closely with them in the future. This project represents the backbone of the aircraft manufacturing industries, and will further strengthen our homegrown capabilities, in line with the goals outlined in the Saudi Vision 2030. By building a solid foundation for indigenous manufacturing, we will be able to generate significant cost savings while ensuring a safer and more secure future for the Kingdom and its people. "
"After four years spent investigating the Saudi ecosystem with several potential partners, we are now convinced that our future joint venture partnership with SAMI will enable Saudi Arabia to develop its own manufacturing capabilities and build their own aeronautics industry and associated supply-chain. We are very excited about that new industrial journey and all our teams at Figeac Aéro will strive to make it very successful," said Jean-Claude Maillard, Chairman and CEO of Figeac Aéro.
Located in either Riyadh or Jeddah, the manufacturing plant will be managed and operated by well trained and qualified Saudi engineers and technicians. Activities carried out at the factory will include machine processes such as turning and lathing, sheet metal work, surface treatment processes, and sub-assembly work to deliver finished goods to the final customer.
The entity will leverage aerospace qualification and certification to provide parts, including commercial aircraft wing parts made from titanium. In addition, the program will support SAMI's other aeronautics joint ventures to drive localization in line with the Saudi Vision 2030 directives.