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Syracuse, NY – SRC, Inc. is pleased to announce the opening of SRC KSA, LLC, a new joint venture with ERAF Industrial Co. Ltd. that will localize radar production, support, training and maintenance, repair and overhaul (MRO) operations in the Kingdom of Saudi Arabia, reinforcing a long-term commitment to regional capability development.
The partnership marks SRC's first joint venture and its first presence in the MENA/GCC region. The joint venture aligns with the Kingdom's Vision 2030 strategy, which aims to increase its industrial autonomy in the defense sector by localizing 50% of military expenditures by 2030. SRC KSA is SRC's fourth international subsidiary, joining SRC Aus in Australia, SRC Can in Canada and SRC UK in the United Kingdom. "The U.S.-Saudi strategic relationship continues to evolve with every joint venture," said U.S. Embassy Chargée d'Affaires Alison Dilworth. "SRC and ERAF are contributing to the long-term stability of the region while supporting Saudi Arabia, one of our enduring partners in the Middle East. Their participation in the World Defense Show reinforces the mutual commitment of the United States and Saudi Arabia to continued growth and success." "The joint venture enables local sourcing, production and logistics support throughout the life of the product, promotes industrial cooperation and technology transfer, while strengthening the Kingdom's defense infrastructure by enhancing radar expertise within the KSA," said Kevin Hair, president and CEO of SRC, Inc. "This aligns with Vision 2030's objective of increasing domestic manufacturing and technological self-reliance." Fahad Al-Ameel, CEO of ERAF Industrial Co. Ltd., emphasized the significance of the new joint venture for Saudi Arabia's defense industrialization efforts. "As ERAF marks 30 years of supporting Saudi defense capabilities, our partnership with SRC is an important step toward strengthening the Kingdom's industrial autonomy under Vision 2030. SRC KSA reflects our shared commitment to localizing advanced technologies, developing national talent and building a sustainable defense ecosystem proudly carrying the 'Made in Saudi Arabia' mark."
About ERAF Industrial Co. Ltd.ERAF was established in 1996 as a manufacturing services provider attending to the needs of the military, commercial and industrial sectors. Currently, ERAF can develop and supply a broad portfolio of land, naval, defense products, security and commercial applications. ERAF's systems and products are installed on new and old platforms and perform comprehensive platform modernization and upgrade programs. In addition, ERAF provides a range of support services.
About SRCSRC, Inc. (@SRCDefense), a not-for-profit research and development company, combines information, science, technology and ingenuity to solve “impossible” problems in the areas of defense, environment and intelligence. Across a family of companies, SRC applies bright minds, fresh thinking and relentless determination to deliver innovative products and services that are redefining possible® for the challenges faced by America and its allies. Since 1957, SRC’s commitment to the customer and the best solution — not the bottom line — has remained a core value that guides its efforts. This passion for quality carries through to the technologies the company invents and manufactures, the laboratories and facilities it builds, the people they hire, and communities where they work. Today, more than 1,400 engineers, scientists and professionals work together at SRC to protect people, the environment and our way of life.
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A signing ceremony announcing the joint venture was held Feb. 9 at the World
Defense Show. Pictured from left to right: Brigadier General David Kobs;
Mary Beth Morgan, Deputy Director, DSCA; Alison Dilworth, Chargé d'affaires,
U.S. Embassy in Saudi Arabia; Kevin Hair, President and CEO, SRC, Inc.;
Abdullah Al-Ameel, Chairman, ERAF; Fahad Al-Ameel, CEO, ERAF; Fahad Al
Suhaimi, ERAF Public Relations.
