Lockheed Martin buys stake in Abu Dhabi firm
Abu Dhabi, January 16, 2011
Lockheed Martin has acquired an equity stake in the Abu Dhabi-based Advanced Military Maintenance, Repair and Overhaul Center (Ammroc), it was announced today.
Lockheed joins shareholders Sikorsky Aerospace Services, which owns an equivalent share, and Abu Dhabi Aircraft Technologies (ADAT), the principal shareholder in the company.
The addition of Lockheed Martin brings significant aerospace sustainment and service capabilities allowing Ammroc to further expand its service offerings in the fixed-wing market segment, a statement said.
Linking this new expertise to Ammroc's developing capability in the rotary-wing segment allows Ammroc to become a leading global provider of military aviation maintenance, repair and overhaul (MRO) services to the United Arab Emirates (UAE) Armed Forces and other military operators both globally and regionally, it said.
With the combined strength of the partners and an aggregate investment that exceeds $800 million, Ammroc draws on decades of experience and expertise in aerospace engineering, material support, logistics, maintenance, component repair, overhaul and training, to deliver a fully integrated MRO support program by a single provider.
Ammroc will provide innovative platform solutions for all fixed- and rotary-wing aircraft
operated by the UAE Armed Forces, to ensure guaranteed aircraft readiness, deployability, improved safety and self reliance, thus enabling operational, humanitarian and peace keeping missions.
Homaid Al Shemmari, chairman of ADAT and Ammroc commented: “This is an exciting
development in Ammroc’s evolution and we are delighted to partner with another global
leader in the aerospace industry. Lockheed Martin’s involvement will expand Ammroc’s
capabilities and complement our existing service offerings to our customers."
“Lockheed Martin is pleased to join the Ammroc joint venture with Sikorsky Aerospace
Services and Abu Dhabi Aircraft Technologies. We look forward to working with the other shareholders to collectively support the military aircraft sustainment needs of the UAE and customers in the region,” said Ralph D Heath, executive vice president- Aeronautics for Lockheed Martin Corporation.
Ammroc currently shares existing ADAT facilities and support staff until the completion of its new complex at the International Airport in the city of Al Ain.
Ammroc is expected to create an additional 4,000 new jobs in the United Arab Emirates focusing on the development of UAE nationals and also will maintain an on-site presence at the UAE Armed Forces bases associated with ongoing maintenance support contracts. - TradeArabia News Service
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