logo
Share SHARE
FONT-SIZE Plus   Neg

Sikorsky Aircraft, Boeing Form JV To Offer Saudi Rotorcraft Logistics, Training

United Technologies Corp.'s (UTX) Sikorsky Aircraft Corp. and Boeing (BA) have formed a joint venture to compete for sustainment services in support of the Kingdom of Saudi Arabia's rotorcraft fleet, Sikorsky announced Thursday.

Boeing Sikorsky International Services or BSIS, an equal-share joint venture, offers comprehensive in-country logistics, fleet and supply-chain management, maintenance support and aircraft modifications, as well as training for aircrews and maintainers.

David Adler, president of Sikorsky Aerospace Services or SAS, the aftermarket business of Sikorsky Aircraft, said, "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."

Contracts that the joint venture will pursue are administered by the U.S. Government as part of its Foreign Military Sales process.

According to the company, the venture will help advance the Kingdom's efforts to diversify its economy, expand the technological expertise of its aerospace and commercial sectors, and add jobs.

Both companies have worked together for decades. They have also significant experience operating in Saudi Arabia. Sikorsky began to work with the Kingdom in early 1990s.

The Kingdom of Saudi Arabia operates a fleet of Boeing fixed wing and rotorcraft platforms. Boeing also supports research and community projects.

UTX closed down 2.1 percent on Wednesday at $94.18.

BA settled lower by 1.8 percent at $102.25.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Electronic Arts Inc. said it is shutting down its Visceral Games Studio and making major changes to its upcoming Star Wars project currently being developed by the studio. Visceral Games is best known for creating the "Dead Space" series. Canada's banking regulator has released tougher mortgage-financing rules for borrowers in the uninsured segment of the mortgage market, which has been responsible for the major share of growth recently. It includes a requirement to "stress test" borrowers with uninsured loans to ensure they can withstand the impact of higher interest rates. McDonald's offers smartphone lockers so as to help customers spend quality time during family meals. The "Phone off. Fun On" campaign, introduced recently in a Singapore branch, aims to encourage diners to take a break from the virtual world to have real conversations over meals.
comments powered by Disqus
Follow RTT