Rob Mionis, chief executive of DAE Manufacturing and Engineering, on the company's plans.
What's DAE Manufacturing and Engineering's role in the industry?
DAE plans to build a global aerospace, manufacturing and services corporation that, in the next 10 years, will become an integral part of the global aerospace industry and leading player on the world stage. DAE Manufacturing is developing tier one and two capabilities across product lines and key sectors. It will provide cutting-edge research and development, manufacturing and assembly operations.
The company will also provide end-to-end aviation MRO operations. Its core strategy is to offer comprehensive engine maintenance, repair and overall services, as well as completions and conversions among a global network.
How was the start-up financed?
DAE has multiple sources of capital investment. Our first round equity financing totalled more than US$1 billion and came from the founding partners. In the long term, additional investment will be a mix of shareholder equity (private and public), third party financing (debt) and reinvested profits. DAE's strategic partners include EMAAR, ISTITHMAR, Dubai Airport Free Zone Authority, Dubai International Capital, Dubai International Financial Centre, and Government of Dubai.
How does the operation work within the DAE group?
DAE Engineering's goal is to become the undisputed and recognised leader in aviation MRO. The emphasis is on global networks and our recent acquisition of Standard Aero and Landmark Aviation builds on the investment we made in SR Technics.
These acquisitions establish DAE's presence in North America, expanding our reach around the world. Landmark Aviation and Standard Aero - and their inclusive businesses, Associated Air Center and TSS Technologies - also provide us with an increased portfolio of customers operating across many diverse market segments.
When did you join the company?
I joined DAE in September 2006. I was inspired by DAE's vision and ambitious business plan and wanted to be part of making that vision a reality. In addition, it's an exceptional opportunity to work with an incredibly talented and experienced management team; a team with the vision to grow a business into a multi-billion dollar enterprise.
What are your main objectives?
Our goals for both DAE Engineering and DAE Manufacturing are to leverage the group's expertise, its markets, the relationships and the unprecedented growth opportunities across the globe. We also have a keen focus on providing operational excellence and customer satisfaction, with technical competencies built and introduced through investment and innovation.
What has the company achieved since you arrived?
We have achieved a tremendous amount in the past year. We've introduced a world-class leadership team, and developed and honed our business plan. We have invested in SR Technics, a leading European-based MRO provider, and acquired two significant MRO businesses headquartered in the US, Standard Aero and Landmark Aviation. In addition, we've established DAE Engineering and Manufacturing as a credible partner and emerging force.
Why acquire Standard Aero and Landmark Aviation?
We knew of the fine work done by Standard Aero and Landmark Aviation and are extremely excited to have these companies as a cornerstone of DAE's Engineering division. These companies have established themselves as two of the most extensive and experienced aviation services providers in the world, and completion of this acquisition is an important step in our strategy to become a global force in this sector.
For extending our reach, the combination of Standard Aero and Landmark Aviation creates a global aviation services network of 12 primary facilities in the US, Canada, Europe, Singapore and Australia, with an additional 14 regionally located service and support locations.
What are your plans for the next 12 months and beyond?
Our formula for being a successful player is to listen closely to our customers, anticipate their needs and react to changes in the marketplace. We will build upon our relationships across the aerospace sector and include the key airlines, many of whom are focusing on long-term agreements that encompass whole aircraft systems with total cost guarantees.
We will continue focusing as a group on evolving our global and diverse network with touch points in all aspects of the supply chain - from manufacturing to financing, MRO to product support.
In other words, our engineering and manufacturing divisions will support the DAE business model and help propel a structure that is unique to world aerospace, with boundless growth and development opportunities.