Riyadh - Sharikat Mubasher: The UK-based ARC Aero Systems company has signed a strategic partnership agreement with KSA’s Life Shield which is expected to pump GBP 300 million worth of investment into the two nations’ aerospace sectors.
Signed on June 7, the agreement also covers joint involvement in low-volume manufacturing in the UK, as well as pilot training and potential partnerships opening the door to a strategic academic collaboration with Cranfield University, where Arc is headquartered, according to the company's press release.
Supported by Saudi Arabia’s National Industry Development Center, this new partnership will see both the Saudi Government and Life Shield make an equity investment in ARC Systems with the creation of a new company, based in the Middle East nation, called Life Shield Aerospace.
The newly formed company will bolster UK manufacturing with the pilot production of each of ARC’s three designs: Pegasus, P9, and C600. Life Shield Aerospace will then build up facilities for wider-scale manufacturing of aircraft in Saudi Arabia for domestic use by the country’s Ministry of Air Transport and for worldwide export.
“We are incredibly excited and honored to be part of this global joint venture with Life Shield,” Seyed Mosheni, ARC’s founder and CEO, said.
“Not only does this support ARC in bringing its innovative solutions to market, but it also provides a huge economic boost to UK aviation by promoting manufacturing, further R&D, and academic collaboration within the sector,” Mosheni added.
