Abu Dhabi's Mubadala seals $5bn contracts with Airbus, Boeing

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Abu Dhabi's Mubadala seals $5bn contracts with Airbus, Boeing

By Courtney Trenwith
Monday, 18 November 2013 1:37 PM

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.

Arabian Business

Boeing and Mubadala partner to expand UAE aerospace manufacturing

November 19, 2013
By Courtney Howard

DUBAI, U.A.E., 18 Nov. 2013. Mubadala Development Company has the opportunity to supply as much as $2.5 billion in advanced composites and machined metals to Boeing [NYSE:BA] commercial programs, including the 787 and 777X, under a new strategic agreement.

Boeing and Mubadala have also agreed to work together to develop pre-preg and carbon fiber manufacturing capabilities in the Emirate of Abu Dhabi. This will support the ongoing development of the aerostructures industry and create raw-materials capabilities in the United Arab Emirates. The agreement, expected to increase the long-term role of Mubadala as a Tier 1 supplier to Boeing, was signed at the 2013 Dubai Airshow.

This latest agreement advances the strong relationship between Boeing and Mubadala and reflects the UAE’s expanding role in aerospace industry manufacturing.

Strata Manufacturing, a Mubadala subsidiary, is also positioned to be a supplier of the 787 Dreamliner vertical fin. Boeing and Mubadala remain committed to continue their close cooperation to develop Emirati aerospace capabilities.

“Boeing is pleased to expand our relationship with Mubadala, a company that is committed to creating globally competitive and strategic aerospace capabilities in the UAE,” says Boeing Commercial Airplanes President and CEO Ray Conner. “We support our customers by leveraging the world’s talent and resources in ways that build a more capable, competitive supply chain for our products.”

Avionics-intelligence

Mubadala subsidiary signs agreements with Boeing, Airbus



Strata Manufacturing positions itself as a Tier 1 supplier to the aircraft manufacturers

Staff Report
Published: 16:34 November 18, 2013

Dubai: Abu Dhabi-based Mubadala announced on Monday that it has made a strategic agreement with Boeing to position itself as a Tier 1 supplier to the US plane maker.

As part of the agreement, Mubadala will supply $2.5 billion (Dh9.18 billion) worth of advanced composites and machined metals to Boeing commercial programmes, which include the 787 and 777X.

The two companies will work together to develop pre-peg and carbon fibre manufacturing in Abu Dhabi, which will support the development of the aerostructures industry.

“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,” Humaid Al Shemmari, executive director of Mubadala Aerospace, Communications Technology and Defence Services (ACTDS), said.

Also, Strata Manufacturing, a Mubadala subsidiary, is positioned to be a supplier of the 787 Dreamliner vertical fin.

Airbus deal

Meanwhile, ACTDS said on Monday that it has signed another agreement with European plane maker Airbus regarding aerostructures manufacturing.

Airbus too will procure composite raw material from Mubadala in the future, when productions begins from a proposed raw materials manufacturing facility to be established in Abu Dhabi.

Airbus will provide work packages to Strata, the company said.


Gulfnews

After huge plane orders, Airbus and Boeing sign Gulf supplies deals

By Rania El Gamal and Praveen Menon
November 18, 2013

DUBAI - Airbus and Boeing signed deals to buy some $5 billion of parts and materials from Abu Dhabi on Monday, in a sign Gulf states are seeking a reciprocal boost to their economies from the huge orders they have placed with the planemakers.

Gulf airlines, led by Dubai's Emirates and Abu Dhabi's Etihad, struck plane deals worth almost $150 billion - or more, including options - on the first day of the Dubai Airshow on Sunday.

The buying spree underscored a shift in power in the aviation industry, as oil-rich, fast-growing economies of the Gulf take advantage of their strategic position between East and West to draw more travelers from hubs in Europe and Asia.

While the orders are a big boost to Airbus (EAD.PA) and Boeing (BA), the world's dominant civil aircraft manufacturers, suppliers in Europe and the United States are worried they will suffer from the growing globalization of the aircraft supply chain, in which Gulf firms are playing a part.

Airbus agreed a new deal on Monday with Abu Dhabi's state investment fund Mubadala (MUDEV.UL) to expand their partnership "for further composite and metallic aerostructure production in the United Arab Emirates, in addition to procurement of composite raw materials, worth $2.5 billion," Mubadala said.

Reuters reported on Sunday the two parties were close to an agreement.

Separately, Boeing said it had also signed a new deal with Mubadala for Abu Dhabi to supply as much as $2.5 billion in advanced composites and machine metals to the U.S. planemaker.

In addition, Boeing said it had reached an agreement with Abu Dhabi's Tawazun Precision Industries, a state-owned manufacturing company, to set up a facility in the United Arab Emirates for producing aerospace parts.

The facility will be up and running by 2016 and will produce parts for other aircraft manufacturers as well as Boeing, the two parties said, without disclosing financial details.

"SERIOUS CONSEQUENCES"

Airbus shares jumped more than 3 percent on Monday following Sunday's slew of orders, which boost its A380 - the world's biggest passenger jet, which had been struggling for orders. Boeing's orders boost its new version of the 777 jet.

The hub cities in the Gulf - Dubai, Abu Dhabi and Doha - are spending billions on infrastructure in a bid to attract travelers and diversify their oil-based revenues, at a time when faltering Western economies are struggling to invest.

Mubadala, which has a mandate to develop the emirate's local economy, has sought to play a major role in the production of composite tail sections for passenger jets.

A group representing U.S. airline pilots warned on Saturday the sale of hundreds of planes to Gulf airlines that compete with U.S. carriers would have "serious consequences for the U.S. economy and U.S. airline workers.

Both Airbus and Boeing have already established partnerships with Strata, the composites manufacturing unit of Mubadala Aerospace which produces parts at Al-Ain near Oman.

(Additional reporting by Tim Hepher; Writing by Mark Potter; Editing by Sophie Walker)

Reuters

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[Yzd Khalifa]

Amazing how the UAE is working to be the new epicenter for transit flights all across the globe.