Dubai Airshow Attracts Sovereign Wealth Capital
Mubadala Development Company has inked a pair of US$ 2.5 billion deals at the 2013 Dubai Airshow to provide advanced composites to both Boeing and Airbus, according to statements made by the respective companies.
Mubadala and Airbus have signed agreements to augment their participation in relation to aerostructures manufacturing. The deal builds on agreements already held between the two organizations. In the agreement, Airbus has made further commitments to award work to Strata, Mubadala’s advanced composited aerostructures manufacturing plant. Strata has already completed work for several Airbus aircrafts.
Airbus has also agreed “to procure composite raw material from Mubadala, upon commencement of production from a proposed raw materials manufacturing facility to be established in Abu Dhabi,” said Mubadala in a statement.
Mubadala will also have the chance, through Strata, to supply US$ 2.5 billion worth of advanced composites and machined metals for use in Boeing’s 787 and 777X.
“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,” said Homaid Al Shemmari, Executive Director of Mubadala Aerospace, Communications Technology & Defense Services.
In addition, Boeing is agreeing to work with Mubadala to develop pre-preg and carbon fiber manufacturing capabilities which will, “will support the ongoing development of the aerostructures industry and create raw-materials capabilities in the United Arab Emirates,” Boeing said in a statement.
In a separate agreement, Boeing’s Command, Control and Communications Solutions division agreed to provide low-profile aeronautical SATCOM antennas to Al Yah Satellite Communication Company PJSC, a fully-owned joint stock company of Mubadala.
Abu Dhabi-based Etihad Airways announced a few deals of its own at the Dubai Airshow. According to its website, the order for 143 new aircraft includes “25 next-generation Boeing 777X aircraft, 30 Boeing 787-10 Dreamliners, one Boeing 777 freighter, 50 Airbus A350 XWB, 36 Airbus A320neo family aircraft and one Airbus A330-200F.” Passenger aircraft deliveries are slated to begin in 2018. The deals also include 56 further options and purchase rights.
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