Sanad, a wholly owned subsidiary of Mubadala Investment Company, has announced the launch of a new strategy to expand business beyond the aerospace sector.
The company has also promoted Mansoor Janahi as the new group CEO to lead the growth stage.
The strategy and leadership announcements follow the launch of Operation 300bn last year, which aims to more than double the industrial sector contribution to GDP in the UAE to AED300 billion by 2031.
Under its new industrial services strategy, Sanad will contribute to the economic diversification agenda and help position the UAE as a global industrial hub, a statement said.
Badr Al-Olama, executive director of UAE Clusters at Mubadala and chairman of Sanad, said: “Sanad stands on the cusp of a major transformation underpinned by the Fourth Industrial Revolution.
“Building on our track record of more than three decades of experience in the commercial aviation sector, Sanad is ready to take the next step forward and become the source-to-go, one-stop shop for the broader industrial services sector.
“Mansoor’s knowledge and wealth of experience will be invaluable in this decisive phase for the company as it builds on its strong performance to provide innovative solutions to support the growth of Sanad over the next decade.”
Janahi said: “The UAE has an amazing track record of industrialisation to build on, and a strong footprint in industrial services… Sanad will continue leveraging synergies with international partners, we will develop new and innovative service concepts that combine both our industrial and financial knowledge.”
The current group CEO Troy Lambeth will be supporting a number of strategic initiatives both within the Sanad Group as well as in support of Mubadala’s UAE Investments platform, the statement added.
Under Lambeth’s leadership, the company grew quickly to over $1 billion in spare engine and components supporting airlines and industry service providers globally.
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