Mubadala Aerospace and Boeing Further their Relationship
Monday, 14 November 2011
Dubai, Boeing [NYSE: BA] and Mubadala Aerospace, a business unit of the Abu Dhabi-based Mubadala Development Company, a business development and investment vehicle of the Abu Dhabi government, today announced agreements to advance the commercial and military aviation industry in the United Arab Emirates (UAE).
These milestones further Abu Dhabi’s plans to become a global aerospace hub, a key part of the Emirate’s economic diversification plans, and grow the strong relationship between the two companies.
The commercial and defense agreements announced today is based on a framework agreement Boeing and Mubadala Aerospace signed in November 2009 to confirm commitment to develop mutually beneficial initiatives in strategic areas.
“These strategic agreements represent the natural evolution of the longstanding military and commercial aerospace collaboration between Boeing and the UAE,” said Mubadala Aerospace Executive Director Homaid Al Shemmari. “Mubadala Aerospace is proud to expand this partnership with Boeing and feel that this agreement shows confidence in the outstanding results that Strata Manufacturing and AMMROC offer for its customers and partners.”
Jim McNerney, Chairman, President and CEO of The Boeing Company, said: “These important agreements will strengthen the businesses of both Mubadala and Boeing. Building on the strategic framework we and Mubadala announced at the last Dubai Airshow, we are now demonstrating our solid commitment to our partner, the UAE and the Middle East region. These agreements are a reflection of Mubadala’s outstanding capabilities and pave the way for an ever stronger relationship in the years to come.”
Strata and Boeing Commercial Airplanes
Boeing Commercial Airplanes (BCA) and Strata Manufacturing (Strata), Mubadala Aerospace’s advanced composite aerostructures facility in Al Ain, agreed to establish Strata as a composite aerostructures supplier to Boeing. The agreement also defines a strategic roadmap whereby through performance and competitiveness, Strata stands to become a major Tier 1 supplier to Boeing.
“We see Mubadala Aerospace as a true partner who shares our goal of building tomorrow’s airplanes today,” said Boeing Commercial Airplanes President and CEO Jim Albaugh. “Boeing is impressed with Strata’s vision for establishing globally competitive capabilities and performance, and this agreement position our companies to deliver significant benefits to our stakeholders.”
“Strata is honored to further our partnership with Boeing and is proud to be a part of the team constructing these magnificent aircraft,” said Strata Chief Executive Officer Ross Bradley.
Source: Boeing & Mubadala Aerospace