Sikorsky, Boeing form JV for Saudi Arabia
Sikorsky Aircraft Corp. (NYSE: UTX) and Boeing (NYSE: BA) have formed a joint venture to compete for sustainment services in support of the Kingdom of Saudi Arabia's rotorcraft fleet. Contracts that the joint venture will pursue are administered by the U.S. Government as part of its Foreign Military Sales process. The joint venture will help advance the Kingdom's efforts to diversify its economy, expand the technological expertise of its aerospace and commercial sectors, and create jobs.
"This is a significant milestone in strengthening our future competitive capabilities, designed to bring better value in support of the Saudi military rotorcraft fleets," said David Adler, president of Sikorsky Aerospace Services (SAS), the aftermarket business of Sikorsky Aircraft. "Drawing on our joint expertise, BSIS will compete and operate as a single-source provider of local and comprehensive sustainment for the Kingdom's rotorcraft platforms."
An equal-share joint venture, BSIS offers comprehensive in-country logistics, fleet and supply-chain management, maintenance support and aircraft modifications, as well as training for aircrews and maintainers.
"Our two companies have a demonstrated track record of successfully teaming with each other," said Peri Widener,