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SAMI buys into aircraft accessories company

August 2019

Saudi Arabian Military Industries (SAMI) said it has acquired a majority stake in Aircraft Accessories & Components Company (AACC) – a Saudi entity of the Economic Offset Program, as part of its ongoing efforts to develop a sustainable domestic defence sector in the kingdom. AACC is a specialist in the maintenance, repair and overhaul (MRO) for aircraft hydraulics and secondary power systems (SPS) for multiple platforms.

Following the acquisition by SAMI, the scope of operations of AACC will be expanded to include repairing and maintaining civil aircraft landing gear and increasing non-destructive testing (NDT) and helicopter maintenance capabilities, among other services, said a statement from the company.

According to Sami, the acquisition will enable the firm to expand its services to the Middle East and North Africa (Mena) markets.

“Acquiring a majority stake in AACC is a key factor in the strategic development of SAMI,” remarked its CEO Dr Andreas Schwer.

“The MRO market promises tremendous opportunities for us. All the necessary tools are already in place, and in the near future, we will add MRO for landing gear to AACC’s services,” he noted.

Dr Mansour Al Eid, the chief executive of AACC, said the company’s acquisition by SAMI is an important step in the development of AACC, which will allow the company to expand the scope of its services, invest in local talent and develop its capabilities to better serve its customers, as well as invest in manufacturing spare parts for aircraft.

“The aviation industry in Saudi Arabia is booming in conjunction with the establishment of SAMI and the General Authority for Military Industries (GAMI),” he stated. “They will both contribute to the localisation of military industries, invest in building local capabilities, create jobs for Saudi citizens, and join efforts with national companies to achieve the objectives of the Saudi Vision 2030,” he added.

The Royal Saudi Air Force has recently agreed to a contract with AACC to overhaul and purchase landing gear for Multi-Role Tanker Transport (MRTT) aircraft.

AACC currently overhauls landing gear for military aircraft and is cooperating with Safran Landing Systems, the world’s leader in aircraft landing and braking systems, to develop the capability to overhaul landing gear for civil aircraft in the Gulf and Mena regions.

 




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