The US’ Raytheon and Saudi-based Advanced Electronics Company (AEC), which have more than two decades of industrial cooperation, will further strengthen ties following the signing of an MoU between them.
Raytheon is a leading technology and innovation company that specialises in defence, security and civil markets, while AEC is a private sector firm that serves local, national, regional and international clients within the defence, telecom and manufacturing industries.
Under the MoU, the companies envision expanding their collaboration to new defence and civil markets, and intend to explore opportunities ranging from integrated sensors, weapon systems, civil aviation, and land warfare systems, to cyber, a statement following the signing said.
AEC received a Platinum award in March 2015 recognising its overall performance on its manufacturing efforts for Raytheon in support of the F-15 programme.
AEC is also a preferred supplier for Raytheon’s Strategic Enterprise Aligned Commodities initiative.
John D Harris II, vice president of business development and chief executive officer, Raytheon International, Inc, commented: “AEC is a trusted and longstanding partner and we look forward to increasing our cooperative work for Saudi Arabian markets as well as possible regional and global expansion.”
Dr Ghassan Al Shibl, CEO and president of AEC, said: “Our partnership with Raytheon offers tremendous growth potential and we are confident that our growing partnership will enhance our support of Saudi Arabia Armed Forces, as well as grant us successful business continuity and growth in increasingly competitive international markets.”