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United Tech and Boeing Team Up to Bid on Saudi Contracts

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Boeing (NYSE: BA  ) and United Technologies (NYSE: UTX  ) are teaming up to help the Saudi military fly right.

On Thursday, the companies announced the formation of Boeing Sikorsky International Services (BSIS), a new joint venture that will bid on contracts to help maintain the Kingdom of Saudi Arabia's fleet of Boeing-built rotorcraft.

Sikorsky Aerospace Services President David Adler explained, "Drawing on our joint expertise, BSIS will compete and operate as a single-source provider of local and comprehensive sustainment for the Kingdom's rotorcraft platforms." A 50-50 joint venture between the companies, BSIS will offer comprehensive in-country logistics, fleet and supply chain management, maintenance support and aircraft modifications, as well as training for aircrews and maintainers.

The companies noted that they will be bidding on future contracts administered by the U.S. Government as part of its Foreign Military Sales process. Thus, the progress of the JV should be easily monitored by following contract announcements posted on the DoD's website daily.


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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

7/29/2015 1:39 PM
BA $144.11 Up +2.30 +1.62%
The Boeing Company CAPS Rating: ****
UTX $98.21 Down -0.76 -0.77%
United Technologie… CAPS Rating: ****

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