The Saudi Arabian Military Industries (SAMI) has announced acquiring majority stake ownership of the Aircraft Accessories and Components Company (AACC), which will help it expand the scope of services it provides, invest in national capabilities and access new markets.
This move comes in line with its continuous initiatives to support efforts to localize the defense sector in the Kingdom.
AACC’s work focuses on maintenance, repair and overhauling of aircraft hydraulic systems and secondary energy systems for multi-platforms.
After acquiring majority stake ownership by SAMI, AACC’s scope of operations will be expanded to cover the repair and overhauling of civilian aircraft landing gear, increasing the NDT (Nondestructive Tests) capabilities and enhancing the capabilities for maintenance of helicopters, in addition to other services.
This will enable the company to expand its services to cover the Middle East and North Africa (MENA) markets.
SAMI’s acquisition of the majority stake in AACC is a basic factor in its strategic development, said its CEO Dr. Andreas Schwer.
“We have promising opportunities in the maintenance, repair and overhauling market as all the basic tools are available,” he added.
“We will work in the near future on adding the maintenance, repair and overhauling of landing gear to the services provided by AACC,” Schwer noted.
AACC CEO Dr. Mansour al-Eid, for his part, said that this step is significant and comes in line with the company’s development process.
“It will enable the company to expand the scope of its services, invest in national capabilities, have access into new markets, develop its client service capabilities and invest in the manufacture of aircraft spare parts.” Eid said.
He added that the aviation industry in the Kingdom is prospering with the establishment of SAMI and the General Authority for Military Industries (GAMI).
The two entities will contribute to localization of military capabilities, investing in building national capabilities and creating jobs for citizens.
He pointed out that with the collective efforts of the national companies, it will strive to achieve goals of the Kingdom’s Vision 2030.
An agreement has been recently reached between AACC and the Saudi Royal Air Forces for overhauling and purchase of landing gear for Multi Role Tanker Transport (MRTT), which is an aerial refueling tanker aircraft based on the civilian Airbus A330.
Meanwhile, AACC is carrying out the overhauling of landing gear for military aircraft and, it is cooperating with Safran Landing Systems, which is deemed the world’s pioneering company in the field of aircraft landing and braking systems.
