Thales and Gulf Aircraft Maintenance (Gamco) of the UAE have announced a Middle East-based joint venture here at the show.
Gamco Thales Systems will be located in Abu Dhabi, from where it will offer technical and industrial development services, integrated logistic support and maintenance and repair services.
Dr Sheikh Ahmed bin Saif Al Nahyan, chairman of Gamco, joined Jean-Paul Perrier, executive vice-president and chief marketing officer for Thales International, to unveil the deal.
Both stressed it is not simply a way of meeting existing offset obligations.
"We want a long-term strategy in the UAE and feel that Gamco is the ideal partner with whom to achieve that," says Perrier.
"This key partnership is fully in line with Thales' approach of being a multi-domestic company, with a strong industrial presence in its main markets."
Outlining the deal, which is projected to achieve annual revenue of $10 million by year three, Perrier introduced Benard Buisson as executive vice-president and Saif Al Mughairy as managing director.
Gamco will own 51% of the new company and Thales the remaining 49%. The partners are investing $6-7 million in the project.
Source: Flight Daily News