SAMI acquires Aircraft Accessories & Components Co. Ltd.

Updated 17 July 2019

SAMI acquires Aircraft Accessories & Components Co. Ltd.

Saudi Arabian Military Industries (SAMI) has acquired a majority stake in Aircraft Accessories & Components Co. Ltd. (AACC), a Saudi entity of the Economic Offset Program. The move is part of its ongoing efforts to develop a sustainable domestic defense sector in Saudi Arabia. 

AACC focuses on 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 nondestructive testing (NDT) and helicopter maintenance capabilities, among other services. The acquisition will also enable the company to expand its services to the Middle East and North Africa (MENA) markets. 

Dr. Andreas Schwer, CEO of SAMI, said: “Acquiring a majority stake in Aircraft Accessories & Components Co. Ltd. is a key factor in the strategic development of SAMI. 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.” 

Dr. Mansour Al-Eid, CEO of AACC, said that the acquisition of the company 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, reach new markets, and develop its capabilities to better serve its customers, as well as invest in manufacturing spare parts for aircraft. 

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

The Royal Saudi Air Force has recently agreed to a contract with AACC to overhaul and purchase landing gear for multi-role tanker transport aircraft. 

AACC currently overhauls landing gear for military aircraft and is cooperating with Safran Landing Systems, a global leader in aircraft landing and braking systems, to develop the capability to overhaul landing gear for civil aircraft in the Gulf and MENA regions. This cooperation will serve as the cornerstone for establishing the new capability, opening up those markets for the company.


Khalaf Al Habtoor extends timely medical assistance to Lebanese hospitals

Updated 6 min 5 sec ago

Khalaf Al Habtoor extends timely medical assistance to Lebanese hospitals

  • Al Habtoor will arrange one-month’s worth of urgent medical supplies for hospitals in the country that have more than 1,000 beds
  • The Khalaf Al Habtoor Hospital at Hrar in northern Lebanon will open up auxiliary treatment support for patients who are unable to be accommodated in Beirut hospitals

DUBAI: Khalaf Al Habtoor, the founding chairman of Al Habtoor Group (AHG), based in the UAE, is reaching out with timely aid for the Lebanese people after the massive explosion at a Beirut port on Tuesday, August 4, that devastated many neighborhoods, leaving more than a hundred dead people and thousands injured.

Al Habtoor, known for his philanthropic activities in the UAE and abroad, said he will extend all possible efforts within his means to aid the affected people in Lebanon as a first step of a multi-pronged assistance plan. As a first step, Al Habtoor will arrange one-month’s worth of urgent medical supplies for hospitals in the country that have more than 1,000 beds. The hospitals to be aided through this initiative include Haroun Hospital, Al Makasid Hospital, Levant Hospital, Rizk Hospital, Rafic Hariri Hospital, Hotel Dieu Hospital and the Khalaf Al Habtoor Hospital, Hrar.

Additionally, the Khalaf Al Habtoor Hospital at Hrar in northern Lebanon will open up auxiliary treatment support for patients who are unable to be accommodated in Beirut hospitals, conducting at least 100 operations for those injured in the explosion. To help those who require much needed recovery and recuperation assistance, the hospital will also rent out a nearby hotel, which will act as a temporary off-site field hospital for post-operative care and treatment.

More than 300,000 people have been left homeless by the blast, which tore through several dozen neighborhoods close to the port area, razing several buildings and shattering glass windows in a much wider area outside the blast zone. Two hotels owned by Habtoor Hospitality in Beirut, Hilton Beirut Habtoor Grand and Hilton Metropolitan Palace, have been damaged in the fallout of the explosion.

Al Habtoor said: “The country and people of Lebanon have always had a special place in my heart. This explosion which has devastated the capital city in the midst of an already severe economic crisis has left the common people badly shaken. We offer our deepest condolences to the families of the victims and will leave no stone unturned in reaching them the best possible emergency and medical aid, post-operative care and temporary accommodation for those rendered homeless by the tragic event.”

He added that the cries of the Lebanese people for help have been heard and that it was important to respond by offering the right kind of assistance and treatment, in terms of quantity, quality and the timing it reaches the people.

The visionary entrepreneur and philanthropist has extended generous contribution to Lebanon in various forms over the last decade, including refugee aid programs, Ramadan campaigns, wintertime distribution of food packages and blankets, the establishment of The Khalaf Al Habtoor Hospital, and a multitude of charitable donations.