Mubadala Development Company, the Abu Dhabi-based investment firm, on Monday announced that its Strata Manufacturing unit has made a number of senior appointment to support its next phase of growth.
Strata, the advanced composite aero-structures manufacturing facility, named Cyril Arar as new chairman while Ismail Ali Abdulla becomes deputy CEO and Murray Hundleby becomes general counsel.
Strata is the Gulf's only manufacturer of aircraft parts and plays a role in the UAE's economic diversification strategy away from hydrocarbons. The government hopes to use companies such as Strata to build clusters of industry and high-tech manufacturing.
Currently, Strata manufactures eight different aircraft components, including moveable wing parts and "flap track fairings" that help to reduce drag when flying at high speed.
Commenting on the appointments, Strata CEO Badr Al Olama said: "We are delighted to welcome Cyril, Ismail and Murray to the Strata family. All have a strong track record of leadership, robust business performance, and regional expertise. I have no doubt that they will have a positive impact on achieving our plan for continued development from day one."
With the upcoming expansion of Strata's manufacturing capabilities in Al Ain, Arar will replace Homaid Al Shemmari as chairman following previous roles within the aerospace industry, most recently within Mubadala's Aerospace and Engineering Service platform where he led the unit's Defence Services division.
Prior to his role within Mubadala, he also served as a Lieutenant Colonel in the UAE Armed Forces, specialising in life cycle management of Land Systems.
Strata said last year that it expected revenues to grow more than 15 percent this year and aims to break even in 2017.
The company has an aeroparts manufacturing facility at Al Ain, an oasis town within Abu Dhabi, producing aircraft components for Airbus, Boeing and others.
Strata generated revenue of 346 million dirhams in 2014 and has a target of 1 billion dirhams by 2020.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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