TYSONS CORNER, VA, April 4, 2018 ” Boeing (NYSE: BA) has signed a memorandum of agreement with state-owned company Saudi Arabian Military Industries to create a new joint venture that aims to localize at least 55 percent of maintenance, repair and overhaul work for Saudi Arabia™s fixed- and rotary-wing military aircraft fleet, ExecutiveBiz reported Monday.
The company said Friday the joint venture also seeks to create approximately 6,000 training and job opportunities as well as generate $22 billion in revenues by 2030 in support of Saudi Arabia™s Vision 2030 and National Transformation Program.
“With this local capability dedicated to sustaining all U.S.-made defense platforms, we can better serve our customers and support the Kingdom™s goals of localization and economic growth,” said Leanne Caret, president and CEO of Boeing™s defense, space and security segment and a 2018 Wash100 recipient.
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