Brahmand NewsPrevious Article
Brahmand NewsNext Article
Headlines

Lockheed buys stake in Abu Dhabi defence firm

Line Spacing+- AFont Size+- Print This Article

DUBAI (PTI): US defence manufacturing giant Lockheed Martin has acquired an equity stake in Abu Dhabi contractor Advanced Military Maintenance Repair and Overhaul Centre (AMMROC).

The manufacturer joins the venture's existing firms, Sikorsky Aerospace Services, which holds an equivalent share, and Abu Dhabi Aircraft Technologies (ADAT), the principal shareholder, according to a statement released here Sunday.

The size of the deal, however, has not been revealed.

AMMROC was launched in July 2010 as a joint venture between ADAT, a wholly-owned subsidiary of Mubadala Development Company, the strategic investment arm of the Abu Dhabi Government.

AMMROC will provide maintenance repair and overhaul (MRO) to all fixed- and rotary-wing aircraft in the UAE military, as well as offering services to other armed forces around the world.

Over $800 million has already been invested in the project.

AMMROC is expected to create an additional 4,000 new jobs in the UAE focusing on the development of UAE nationals and will maintain an on-site presence at the UAE Armed Forces bases associated with ongoing maintenance support contracts.

David Adler, President of Sikorsky Aerospace Services said that they believe AMMROC will bring tremendous opportunities to both our companies and expanded service capability to the UAE's Armed Forces, Abu Dhabi and eventually to South Asia, Middle East and North Africa region.

Tags:

Lockheed  Defence  
Line Spacing+- AFont Size+- Print Article

Other Related News

IAF has two-pronged strategy to deal with shortage of fighter jets: Govt

To address the shortage of fighter aircraft in the Indian Air Force, the government has adopted a two-pronged strategy of midlife upgradation of existing jets and induction of new ones in the fleet, Minister of State for Defence Shripad Naik said on Thursday.

Upcoming Defence Exhibitions

BRAHMOS Missile Systems

Headlines

Brahmand World Defence Update 2020

Brahmand World Defence Update

Image Gallery