Aerospatiale Matra and Lockheed Martin have signed a memorandum of agreement to pursue a joint investment in the new Korean Aircraft Industries (KAI).
This is the first step towards possible greater co-operation between the US defence and aerospace giant and Airbus Industrie.
The agreement follows the South Korean Government's rejection of a bid from Lockheed Martin to take a stake in KAI, which is to be formed by the consolidation of the country's aerospace industry.
The tie-up with Aero-spatiale Matra will enable the companies to make an offer encompassing both military and commercial programmes.
Alliance
"This project will allow the two companies to build an alliance with a major Asian player in the aerospace and defence market," says a statement released at the show yesterday by the two firms.
At the same time, the US and French manufacturers have confirmed that they are "...continuing their discussions for further partnerships on tanker transport and multi-mission large military aircraft programmes."
Lockheed Martin talked with Airbus and its partner companies on and off for the past five years, trying to form an alliance to compete against Boeing in the aerial-refuelling tanker and large tactical transport markets.
Source: Flight Daily News
