Tasnee announces that one of its subsidiaries - Advanced Metal Industries Co.- have signed on Monday 26 February 2018 a Memorandum of Understanding with The National Industrial Clusters Development Program (NICDP), Al Salam Aerospace Industries Company and Figeac Aero Group, to explore the potential of establishing an Aircraft Precision Machining Production Facility in Saudi Arabia both for civil and military aircrafts as part of Titanium Industries chain and will be Effective from the date of signature and for one year. This project comes in line with the Kingdom 2030 vision of localizing military and advanced industries as well as diversifying the national economy. Note that does not entail any related parties.
Please note that Advanced Metal Industries Co. (AMIC) owned 50% by Tasnee and 50% by Cristal (which owned by Tasnee79%)