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Hamilton Sundstrand Authorizes Mubadala Aerospace for Boeing 787 MRO

According to the press release, “Hamilton Sundstrand Corporation and Mubadala Aerospace have finalized a wide-ranging strategic agreement under which Mubadala Aerospace will be a key part of the support network for servicing Hamilton Sundstrand products and systems on the Boeing 787. The deal, a first for Hamilton Sundstrand, includes a licensing agreement for Mubadala Aerospace to provide maintenance, repair and overhaul (MRO), through Mubadala-owned companies Abu Dhabi Aircraft Technologies (ADAT), SR Technics and Sanad Aero Solutions (Sanad), based on Hamilton Sundstrand’s technical expertise. The agreement gives 787 operators an additional choice for their maintenance needs for Hamilton Sundstrand products and systems, which make up a majority of the systems on Boeing’s new 787 Dreamliner.

Mubadala Aerospace is a business unit of Mubadala Development Company, the strategic investment arm of the Abu Dhabi government. Hamilton Sundstrand is a subsidiary of United Technologies Corp. (NYSE: UTX).

Under the license agreement, ADAT and SR Technics will provide integrated component solutions (ICS) to Boeing 787 airline customers, while Sanad will provide financing of rotable components, all with the technical support of Hamilton Sundstrand. Mubadala Aerospace is developing a global network covering the entire MRO value chain, including engine, component and airframe capabilities, in addition to spare engine and rotable leasing through Sanad.

“Hamilton Sundstrand is pleased to establish this key relationship with Mubadala Aerospace to equip Mubadala MRO companies with the required resources to service Hamilton Sundstrand systems and particularly components for the Boeing 787,” said Matthew Bromberg, vice president and general manager, Hamilton Sundstrand Customer Service. “This arrangement will allow Hamilton Sundstrand to extend its reach of OEM world-class service by building on Mubadala Aerospace’s capabilities in both the Europe and the Middle East. The Boeing 787 has a diverse customer base and demands diverse maintenance solutions.”

Homaid Al Shemmari, executive director of Mubadala Aerospace, said, “We are delighted to sign this strategic agreement with Hamilton Sundstrand, which brings essential component capability to ADAT and SR Technics for the Boeing 787 and financing opportunities for Sanad. Hamilton Sundstrand is one of the largest players in the aerospace components industry, and shares our global ambitions. Importantly, this expands our relationship with UTC and complements our existing partnership with Sikorsky in AMMROC. We are excited about the overall opportunities this relationship brings to both parties.””

Read more: Hamilton Sunstrand Press Release

UNICEF and NBIM to Host Meetings on Children’s Human Rights

The United Nations Children’s Fund (UNICEF), a United Nations programme headquartered in New York City, has partnered with Norges Bank Investment Management (NBIM) to facilitate a series of meetings between companies to discuss issues surrounding children’s human rights.

According to the news release, “the network will facilitate dialogue between leading brands and retailers in the garment and footwear industry to strengthen children’s rights.”

NBIM is invested in many listed companies and have invited them to join a network to tackle these issues. Over the next two years, the organizations plan to hold three workshops as well as quarterly meetings surrounding these issues.

“Over time, we hope and expect that the network will contribute to improved market practices among companies and greater respect for children’s rights,” says Carine Smith Ihenacho, Global Head of Ownership Strategies, in a NBIM press release.

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SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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