BAE Systems Strengthens Saudi Presence with Company Reorganisation

By Admin
Share
BAE Systems has announced that it would reorganise its interests in Saudi Arabia into one company to enhance its relationship with Riyadh Wings, its par...

BAE Systems has announced that it would reorganise its interests in Saudi Arabia into one company to enhance its relationship with Riyadh Wings, its partner in the country.

Europe’s biggest defence contractor is looking to bring together the strengths of the two groups in areas of training and development, electronics, and IT systems engineering into a single holding company which will be majority owned by BAE.

The reorganisation will not bring about any material near-term impacts on underlying earnings but highlights the company’s ongoing strive to have more of an influence in emerging markets via key partnerships.

"This enhancement of our relationship with our valued partner demonstrates the continued commitment to increase Saudi participation in our business in support of stated Saudi national priorities," BAE's Chief Executive Ian King said in a statement on Monday.

 

Image attribution: IanC66 / Shutterstock.com" target="_blank">IanC66 / Shutterstock.com

Share

Featured Articles

Tata & JLR: Supercharging Next Gen Automotive Connectivity

With the Tata Communications MOVE platform, JLR is ensuring electric fleet connectivity, driving the future of software-defined automotive manufacturing

FUJIFILM Diosynth Biotechnologies Expands in Denmark

The life science company FUJIFILM Diosynth Biotechnologies is investing in its Hillerød site to drive the development & advancement of Danish life science

Reviewing Trump's First Term to Prepare for the Second

With Donald Trump returning to the White House, we reflect on the impact of the manufacturing policies, rules and tariffs imposed during his first term

Amazon Delivers One Billion Packages via Electric Vehicle

Sustainability & ESG

Rolls-Royce Invests Millions to Expand Goodwood Facility

Production & Operations

Manufacturing Unwrapped: Manufacturing Leader Jeff Winter

Digital Factory