SAMI inks deal with US firm Amentum to boost land defense systems, localize spare parts

The signing ceremony with the global leader in advanced engineering and technology solutions was attended by leading figures from both firms. SAMI
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Updated 18 August 2025
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SAMI inks deal with US firm Amentum to boost land defense systems, localize spare parts

  • Deal marks pivotal milestone in strengthening readiness of Kingdom’s land systems
  • It reinforces SAMI’s position as national leader in defense maintenance

JEDDAH: Saudi Arabian Military Industries has signed a cooperation deal with US-based Amentum to strengthen the Kingdom’s land defense systems, improve maintenance and overhaul, and localize spare parts.

The signing ceremony with the global leader in advanced engineering and technology solutions was attended by leading figures from both firms, including Mohammed Al-Hodaib, executive vice president of SAMI Land, and Feras Al-Hassoun, Middle East operational sales director at Amentum.

Under Vision 2030, Saudi Arabia is pursuing defense self-sufficiency, with SAMI aiming to localize 50 percent of defense spending through global partnerships and joint ventures with leading international manufacturers.

“This agreement marks a pivotal milestone in strengthening the readiness of our land systems, enhancing the localization of spare parts, and reinforcing our position as the national leader in defense maintenance and sustainment,” the Saudi national defense and security champion, operating under the Public Investment Fund, said in a statement.

In July, SAMI, ranked among the world’s top 100 defense companies, signed technology transfer agreements with three leading Turkish defense firms, including Nurol Makina, FNSS, and Aselsan, to accelerate the localization of advanced land systems manufacturing in the Kingdom.

At that time, SAMI Land reaffirmed its commitment to advancing strategic objectives by localizing the Kingdom’s defense industries, enhancing industrial capabilities, and delivering high-quality products and services across the entire product lifecycle.

SAMI operates through five primary divisions, with SAMI Land spearheading the Kingdom’s ground defense capabilities.

SAMI Aerospace develops aircraft components and unmanned aerial vehicles, while SAMI Sea focuses on naval defense technologies, including corvettes and other maritime systems.

Meanwhile, SAMI Defense Systems provides integrated solutions such as command and control systems and radar technologies, and SAMI Advanced Electronics develops cybersecurity solutions and electronic warfare systems.

Together, these divisions support the PIF subsidiary’s mission to enhance Saudi Arabia’s defense capabilities and localize military manufacturing.

In April, Amentum, listed on the New York Stock Exchange under the ticker AMTM, announced the sale of its hardware and product business, Rapid Solutions, to Lockheed Martin for $360 million.

The move positions Amentum as a pure-play provider of technology-enabled solutions and accelerates its debt reduction objectives, underscoring the company’s strategic focus on advanced engineering and mission support services.


Closing Bell: Saudi main index slips to close at 10,588 

Updated 14 December 2025
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Closing Bell: Saudi main index slips to close at 10,588 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 127.15 points, or 1.19 percent, to close at 10,588.83. 

The total trading turnover of the benchmark index was SR2.57 billion ($685 million), as 28 of the stocks advanced and 232 retreated.    

Similarly, the Kingdom’s parallel market Nomu lost 108.53 points, or 0.46 percent, to close at 23,719.13. This comes as 22 of the stocks advanced while 47 retreated.    

The MSCI Tadawul Index lost 17.17 points, or 1.22 percent, to close at 1,393.34.     

The best-performing stock of the day was Sport Clubs Co., whose share price surged 3.69 percent to SR9.00.   

Other top performers included Flynas Co., whose share price rose 2.55 percent to SR72.30, as well as National Industrialization Co., whose share price surged 2.13 percent to SR10.09. 

Consolidated Grunenfelder Saady Holding Co. recorded the most significant drop, falling 6.61 percent to SR8.90. 

Sustained Infrastructure Holding Co. also saw its stock prices fall 5.75 percent to SR30.82. 

CHUBB Arabia Cooperative Insurance Co. also saw its stock prices decline 5.72 percent to SR22.40. 

On the announcements front, Wataniya Insurance Co. said it has received a notice of award for a one-year contract with Saudi National Bank to provide general insurance as well as protection and savings insurance services, in line with agreed terms and conditions. 

According to a Tadawul statement, coverage will begin on Jan. 1, 2026. The contract value exceeds 15 percent of the company’s total revenues, based on its latest audited financial statements for 2024.  

Wataniya Insurance Co. ended the session at SR14.35, up 1.92 percent. 

Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, has announced executing a SR1.5 billion facility agreement structured as a short-term loan with Emirates NBD – Kingdom of Saudi Arabia. A bourse filing revealed that the financing duration is three years with an option to extend for a total of two years. 

Cenomi Retail ended the session at SR20.00, up 0.26 percent. 

First Milling Co. has announced the Board of Directors’ recommendation to amend the firm’s bylaws Article “Company Management” to increase the number of board members from seven to eight. This change reflects the firm’s commitment to broadening the range of expertise and skills on its board, in line with its growth and expansion plans for the next phase. 

The company reiterated its commitment to fulfilling all necessary procedures and obtaining approvals from the relevant authorities. The recommendation will be submitted to the upcoming General Assembly, with the date to be announced in due course. 

First Milling Co. ended the session at SR49.22, down 1.06 percent.