Riyadh, Saudi Arabia, May 21, 2024 - The Kingdom of Saudi Arabia's National Industrial Development Center (NIDC), AHQ Group and Embraer (NYSE: ERJ; B3: EMBR3) today signed a Memorandum of Understanding (MoU) to discuss a joint strategy to develop the local aerospace ecosystem. The signing ceremony was held in Riyadh, as part of the Future Aviation Forum.
The agreement focuses on the adoption of Embraer aircraft by the Kingdom of Saudi Arabia as well as on potential technological cooperation, supply chain and human capital development between the organizations to achieve excellence in products and services, evaluate industrial capabilities and new business opportunities.
Embraer has been working with local companies and the Saudi government to adopt its portfolio and to set industrial collaboration in line with the country's strategic plan Vision 2030. This MoU is another important milestone to reinforce the collaboration between Embraer and Saudi Arabia's growing aerospace cluster.
NIDC has been working to facilitate the growth and diversification of the Kingdom's manufacturing and industrial base through, among other activities, fostering partnerships between local Kingdom entities and international manufacturers to grow and diversify the Saudi economy.
Also as part of the agreement, Embraer and AHQ agree to further review the great potential of the E2 family to be the aircraft of choice for a new airline project in the region.
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About NIDC
Industrial Center is the specialized industrial investment attraction & industrial development organization at the center of the transformation of Saudi Arabia's industrial sector, creating new industries to diversify the economy and meet vision 2030 ambitions. NIDC actuates in eleven different sectors in the Kingdom of Saudi Arabia: Aerospace, Automotive, Building-Materials, Chemicals, Food Processing, Machinery & Equipment, Medical Devices, Minerals & Metals, Pharmaceutical & Biothch, Renewables and Maritime
About AHQ Group
The Group initially started its business after founding its first company, Abdel Hadi Abdullah Al-Qahtani & Sons Co in the early 40's of the 20th century as a wholesaler and supplier of food products. As the business grew and expanded, it diversified into supplying other industries including Petrochemicals, Oil & Gas Exploration and Gathering Systems, Refineries, Fertilizer Plants, Desalination and other energy related fields. Apart from energy related and industrial supplies and the long-established wholesale Food Division, the Group furnishes Medical instruments and Supplies, Recreational Equipment, Computer Software & Hardware, other I.T. services, Consumer Products and Vehicles & Machinery.
The Group has gradually moved towards the industry in major Oil & Gas and Non-Oil & Gas related activities. A Major part of the groups activities is its investments in facilities in Pipe Corrosion Control Services, the Manufacturing of Medium & Large Diameter Steel Pipes, Water Treatment Chemicals, Nails & Galvanised Wire Manufacturing, Industrial & Medical Gases, Water Bottling, and Bulk Food Packaging now form a major part of the Group's activities.
AHQ Group has also founded businesses in the service sector in the fields of Insurance, Travel & Tourism, Transportation and Custom Clearance, besides the other specialised services such as Pipe Inspection, Environmental Protection, Real Estate Investment, Car Parking Services and others.
About Embraer
Embraer is a global aerospace company headquartered in Brazil. It manufactures aircraft for Commercial and Executive aviation, Defense & Security, and Agricultural customers. The company also provides after-sales services & support through a worldwide network of wholly owned entities and authorized agents.
Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. On average, about every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.
Embraer is the leading manufacturer of commercial jets up to 150 seats and is the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service and parts distribution centers across the Americas, Africa, Asia, and Europe.
