Business Agreements Strengthen Boeing, Saudi Arabia Partnership
(Source: Boeing Co.; issued May 21, 2017)
U.S. President Donald Trump and Secretary of State Rex Tillerson were joined by King Salman bin Abdul-Aziz Al Saud, Crown Prince Mohammed bin Naif Al Saud and Deputy Crown Prince Mohammad bin Salman Al Saud at a signing ceremony that included Boeing products and services. Among the announcements:
-- Agreements to purchase Chinook helicopters and associated support services as well as guided weapon systems.
-- Saudi Arabia’s intent to order P-8 maritime, patrol and reconnaissance aircraft, which are based on the Boeing 737 commercial airplane.
-- A joint venture with the Kingdom to provide sustainment services for a wide range of military platforms. The agreement also supports Saudi Arabia’s efforts to grow its indigenous aerospace industry and ecosystem through its Vision 2030 initiative.
-- A commercial registration certificate for the Saudi Rotorcraft Support Company, a newly formed joint venture between Boeing, Alsalam Aerospace Industries and Saudia Aerospace Engineering Industries with bases in both Riyadh and Jeddah that will provide support for both military and commercial helicopters.
-- An agreement between Boeing and SaudiGulf Airlines to negotiate the sale of up to 16 widebody airplanes.
“These announcements reaffirm our commitment to the economic growth, prosperity and national security of both Saudi Arabia and the United States, helping to create or sustain thousands of jobs in our two countries,” said Boeing Chairman, President and CEO Dennis Muilenburg, who also participated in the Saudi-U.S. CEO Forum.
“Our decades-long partnership with the Kingdom began in 1945 when President Roosevelt presented a DC-3 to King Abdul Aziz Al Saud, launching commercial air travel in the region. We welcome the opportunity to continue that support. I appreciate the efforts of King Salman, President Trump and his administration to support American manufacturers as we seek to grow at home and around the world,” he added.
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Lockheed Martin Plays Major Role In Strengthening United States and Kingdom of Saudi Arabia Ties to Bolster Global Security
(Source: Lockheed Martin; issued May 20, 2017)
"At Lockheed Martin, we are proud to be part of this historic announcement that will strengthen the relationship between the United States and the Kingdom of Saudi Arabia," said Lockheed Martin Chairman, President and Chief Executive Officer Marillyn Hewson. "We are especially proud of how our broad portfolio of advanced global security products and technologies will enhance national security in Saudi Arabia, strengthen the cause of peace in the region, and provide the foundation for job creation and economic prosperity in the U.S. and in the Kingdom. These agreements will directly contribute to His Majesty's Vision 2030 by opening the door for thousands of highly skilled jobs in new economic sectors."
The announcement includes:
-- Letters of Offer and Acceptance and a Memorandum of Intent covering government-to-government sales of Lockheed Martin programs to include integrated air and missile defense systems, multi-mission surface combatant ships, radar systems, surveillance systems, tactical aircraft and rotary wing programs.
-- A Letter of Intent, between Lockheed Martin and Taqnia, to form a joint venture to support final assembly and completion of an estimated 150 S-70 Black Hawk utility helicopters for the Saudi government. The program supports work for more than 450 U.S. jobs including in Connecticut at Sikorsky and throughout the U. S. supply chain and also supports KSA's Vision 2030 by creating an additional 450 jobs in the Kingdom, developing local capabilities through technology and skills transfer, thus enhancing the U.S.-Saudi global security partnership.
-- A Memorandum of Understanding between Lockheed Martin and Saudi Arabian Military Industries for the parties to work together to build defense capabilities in the KSA to support Vision 2030 and provide for localization efforts associated with Multi-mission Surface Combatants and Aerostats.
Once fully realized, the programs in this announcement will support more than 18,000 highly skilled jobs in the U.S. and thousands of jobs in Saudi Arabia as part of maintaining and modernizing these platforms over the next 30 years. These programs help the Saudi government realize its Vision 2030 objective of building its domestic technology capabilities and skilled workforce.
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
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Raytheon and Saudi Arabia Military Industries Announce Strategic Partnership
(Source: Raytheon Co.; issued May 20, 2017)
The agreement will enable continued global growth for Raytheon in key market areas such as Air Defense Systems, Smart Munitions, C4I Systems and Cyber Security of Defense Systems and Platforms. This partnership will also contribute directly to the Kingdom of Saudi Arabia's localized defense ecosystem with regional expert capabilities, and will provide a long-term foundation for Saudi Arabia's economic development.
"This strategic partnership is the next step in our over 50-year relationship in the Kingdom of Saudi Arabia and a strong indicator of our continued global growth," said Thomas A. Kennedy, Raytheon Chairman and CEO. "By working together, we can help build world-class defense and cyber capabilities in the Kingdom of Saudi Arabia."
As part of this new agreement, Raytheon today announced plans to establish Raytheon Arabia, a Saudi legal entity wholly-owned by Raytheon that will focus on implementing programs to create indigenous defense, aerospace and security capabilities in the Kingdom. The new company will be based in Riyadh and is expected to include in-country program management, supply and sourcing capabilities, improved customer access and centralized accountability. These programs will positively impact Saudi and U.S. economies including job creation.
Raytheon Company, with 2016 sales of $24 billion and 63,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. Raytheon is headquartered in Waltham, Massachusetts.
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