Advanced_Electronics_Company_Limited

Advanced Electronics Company Limited

Advanced Electronics Company Limited

A subsidiary of SAMI

Advanced Electronics Company (AEC) is a company in Saudi Arabia that was established in 1988 under the Economic Offset Program as per the directives of the government of Saudi Arabia. AEC is a state owned organization specializing in the field of defense, energy, Digital & security services, and modern electronics. AEC is a subsidiary of state-owned defense company Saudi Arabian Military Industries, whose parent company is Public Investment Fund (PIF)[2]

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Acquisition by Saudi Arabian Military Industries

In December 2020, the Saudi Arabian Military Industries (SAMI) fully acquired AEC, making it a 100% Saudi-owned company. The deal shall strengthen SAMI's presence in the defense industries market.[3] It is the largest military industries deal ever concluded in Saudi Arabia.[4]

In 2021, Ziad bin Houmod Al-Musallam was appointed the CEO of AEC.[5]

See also

References

  1. [1]
    https://www.aecl.com/en/about-aec/subsidiaries/
  2. [2]
    https://english.alarabiya.net/business/economy/2019/06/25/Saudi-Arabian-Military-Industries-acquires-ownership-of-Advanced-Electronics-Company
  3. [3]
    "Arabian Aerospace - SAMI acquires Advanced Electronics Company". www.arabianaerospace.aero. Retrieved 2021-01-04.
  4. [4]
    "SAMI acquires AEC in KSA's biggest military deal". Saudigazette. 2020-12-28. Retrieved 2021-01-04.
  5. [5]
    "Who's Who: Ziad bin Houmod Al-Musallam, CEO of the Advanced Electronics Co., a Saudi Arabian Military Industries company". Arab News. 2021-03-22. Retrieved 2021-03-23.
  6. [6]
    "Partnership between Advanced Electronics and Prince Sultan Advanced Technology Research Institute". Al Riyadh(الرياض) (newspaper). Al Riyadh(الرياض) (newspaper). 8 February 2011.


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