The Abu Dhabi investment fund Mubadala has signed deals with both of the world’s leading aeroplane manufacturers, totalling $5bn, to expand its aero parts production business.
Announced at the Dubai Airshow on Monday, the agreements were negotiated during talks with Abu Dhabi airline Etihad, which yesterday announced orders for 82 Boeing jets and 76 Airbus planes.
They allow for further composite and metallic aerostructure production at Strata Manufacturing in Al Ain, as well as an increase in procurement of composite raw materials, Mubadala said in a statement.
The commitments to procure composite raw material from Mubadala will see a raw materials manufacturing facility established in Abu Dhabi.
The Boeing deal seals Strata’s long-term position as a Tier 1 industry supplier, Homaid Al Shemmari, executive director of Mubadala Aerospace, Communications Technology & Defense Services, said.
“Today’s agreement further strengthens our relationship with Boeing, and provides an important platform as we continue to develop our role as a significant supplier to Boeing of composite aerostructures, and develop Strata into a major Tier 1 industry supplier,” he said in a statement.
Strata already provides some parts for Airbus’ A330, A340, A350 XWB and A380 aircraft, as well as empennage ribs for Boeing’s 777 and vertical fin ribs for its 787s and has an agreement to build the vertical fin for the Dreamliner.
“The cooperation with Strata fosters our long-term partnership based on their strong capabilities consistently delivering high quality products to Airbus. We are pleased that the deliveries out of the UAE continue to play an important role in the future,” Airbus chief operating officer Guenter Butschek said.
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