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Boeing : to Form Joint Venture with Saudia Aerospace and Alsalam Aircraft

08/31/2015 | 10:34am US/Eastern
Deal Type: Partnership
Deal Sub Type: Joint Venture
Deal Country: Saudi Arabia
Deal Status: Announced
Deal Value: 0.0000 USD

Deal in Brief

The Boeing Company, a manufacturer of commercial jetliners, military aircraft, designing rotorcraft, electronic and defense systems based in the US, has signed an agreement to form a joint venture with Saudia Aerospace Engineering Industries and Alsalam Aircraft Company. Saudia Aerospace Engineering Industries is a provider of aircraft maintenance, and Alsalam Aircraft is provider of aircraft maintenance, modification, and technical support to commercial, corporate and military customers. Both companies are based in Saudi Arabia. Under the terms of the agreement, Boeing, Saudia Aerospace Engineering and Alsalam Aircraft will create the Saudi Rotorcraft Support Center in the Kingdom of Saudi Arabia and will have locations in Riyadh and Jeddah, which will provide maintenance repair and overhaul support for Saudi Arabia’s rotorcraft fleet. The transaction is subject to customary closing conditions and regulatory approvals and is expected to be completed in late 2015 or early 2016.

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(c) 2015 Progressive Media Group Metadata. All rights reserved. Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Progressive Media Group Metadata shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon., source PDM Deals

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