PARIS, June 20, 2013 /PRNewswire/ -- PARIS AIR SHOW-- Sikorsky Aircraft Corp. (NYSE: UTX) and Boeing (NYSE: BA) have formed a joint venture to compete for sustainment services in support of the Kingdom of Saudi Arabia's rotorcraft fleet. Contracts that the joint venture will pursue are administered by the U.S. Government as part of its Foreign Military Sales process. The joint venture will help advance the Kingdom's efforts to diversify its economy, expand the technological expertise of its aerospace and commercial sectors, and create jobs. (Logo: http://photos.prnewswire.com/prnh/20060403/SIKORSKYLOGO ) "This is a significant milestone in strengthening our future competitive capabilities, designed to bring better value in support of the Saudi military rotorcraft fleets," said David Adler, president of Sikorsky Aerospace Services (SAS), the aftermarket business of Sikorsky Aircraft. "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." An equal-share joint venture, BSIS offers comprehensive in-country logistics, fleet and supply-chain management, maintenance support and aircraft modifications, as well as training for aircrews and maintainers. "Our two companies have a demonstrated track record of successfully teaming with each other," said Peri Widener, vice president of Boeing Rotorcraft Support and chairman of the board at BSIS. "We'll manage this joint venture as we have our previous partnerships: by working closely with each other and communicating frequently with our customers." Both companies have decades of experience working together as well as operating in Saudi Arabia. Sikorsky's history of working with the Kingdom dates back to the early 1990s. In late 2011, a conversion plan was executed to upgrade selected aircraft in the fleet – marking the second international modernization program under contract with SAS. Most recently, SAS announced plans to perform avionics and structural upgrades to certain fleet aircraft.