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Oshkosh Defense, Al-Tadrea set up JV firm in Saudi Arabia
May 17, 2020US-based Oshkosh Defense, an Oshkosh Corporation company, has signed an agreement with Saudi Al-Tadrea Manufacturing Company (TMC), creating a new Saudi majority-owned firm, Oshkosh Al-Tadrea Manufacturing (OTM).
OTM will combine the manufacturing and tactical-wheeled vehicle expertise of Oshkosh Defense, a tactical wheeled vehicle provider for the US military, with TMC’s 20 years of experience and expertise in meeting Saudi customers’ military vehicle needs. The signing was attended virtually by US and Saudi government officials and representatives of Oshkosh Defense and TMC.
Speaking at the virtual signing ceremony, Fawzi bin Ayoub Sabri, president and CEO of TMC, said: “At the present time and efforts which the Kingdom is exerting in industries, particularly the military industries, we must move forward and follow in the footsteps of our noble Kingdom to achieve the requirements of Saudi national security, raise efficiency of military industries and support the Saudi national human capabilities that we hope to achieve in terms of providing more job opportunities for our young men and women.”
John Bryant, president of Oshkosh Defense, said: “Oshkosh Defense and TMC have been working closely together for over two years through transfers of technology and capabilities to bring this joint venture to fruition. We are excited to partner with this long-established Saudi company at a moment of huge historical change within the Kingdom. The new venture will also significantly contribute to the goals of Vision 2030 through job creation, localizing defense spending and contributing to a strong and diverse economy.”
Read more: https://www.arabnews.com/node/1675681/corporate-news
