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The Saudi Arabian Military Industries Co. (SAMI), which is wholly owned by the Public Investment Fund (PIF), announced the launch of SAMI Composites Co. LLC.
The new subsidiary will produce composite parts for structural aerospace sub-assemblies, as a contribution to enhancing the Kingdom's industrial capabilities in the field of aerospace and defense industries, the Saudi Press Agency reported.
Chairman of SAMI Ahmed Al-Khateeb said, "As part of our commitment to support achieving the goals of Vision 2030, our focus in the company is on developing Saudi capabilities in the field of aviation and defense, as the new facility for the manufacture of composites for aircraft represents a major step towards achieving this mission.”
He added that the new company will play a key role in advancing the localization of competencies through partnerships with world-leading manufacturers of original equipment, as well as enhancing the Kingdom's exports in the field of aviation and developing technical skills for Saudi nationals in the defense industries sector.
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