RIYADH: Saudi Arabian Military Industries has secured clearance from the General Authority for Competition to acquire a 51 percent stake in Saudi Rotorcraft Support Co..
The GAC said in a statement that it has issued a no-objection certification to complete the deal.
Saudi Rotorcraft Assistance specializes in airframe structural repair, entire airframe maintenance, and aircraft modifications for customers
The state-owned SAMI provides aerospace, electronics, defense systems, sea, and land systems with an aim to reduce the country's dependence on foreign defense purchases.
In line with Vision 2030, the Saudi government has been consolidating companies within SAMI to achieve a 50 percent technology transfer target.
