Atitech SpA, Europe's largest independent MRO (Maintenance, Repair, and Overhaul) company, has signed a letter of intent with Alnimr Alarabi Holding to form a joint venture to develop a center of excellence in Saudi Arabia for aircraft and component maintenance and overhaul. The Joint Venture will combine Atitech's experience and expertise—with offices in Naples, Rome, and Olbia, 12 hangars, and a portfolio of over 100 customers, including airlines, government agencies, lessors, and business jet owners—with Alnimr Alarabi's financial capabilities and regional presence, a diversified investment firm based in the Kingdom of Saudi Arabia with a strategic focus on the aerospace sector and emerging technologies. The purpose is to establish a top airplane repair company in the SEMEA region
(South Asia, Middle East, and Africa). "This agreement is a significant step forward for our expansion strategy. This partnership enables us to strengthen our position in the local market and capitalize on the potential provided by the Saudi aviation sector, which is rapidly expanding", stated Gianni Lettieri, President and CEO of Atitech.