VOL. XXXIX

No. 2

9-October-1995

UAE

UAE/French Offset Company Set Up

Gamco (51%) of the UAE and Aerospatiale (49%) of France have set up a new joint venture - Gam-Aero - which will specialize in technical and commercial maintenance of avionics of the Airbus and Boeing aircraft. The joint venture is being set up under the offset program which requires suppliers of arms to the UAE to invest a portion of the value of their contract in non-oil related commercial projects. Gam-Aero will...