Thursday, January 21, 2010

Hellenic Aerospace Industry to Repair and Maintain Saudi Arabian C-130 Engines



Hellenic Aerospace Industry (HAI) has signed a three-year contract with Saudi Arabia’s Defense Ministry to repair and maintain C-130 aircraft engines in a deal worth 43 million dollars (29.8 million euros).As part of efforts to strike up business abroad, state-owned HAI took part in the international tender in cooperation with Saudi Arabian company Middle East Propulsion Company (MEPC).

HAI managing director Tassos Philippakos said that “the contract lays the foundation for an important strategic cooperation with MEPC and Saudi Arabia’s armed forces, while at the same time it is an example of HAI’s successful efforts to expand abroad.”The deal is seen as an important step for the Greek company in its bid to secure a market share in Saudi Arabia and the broader region.

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