Mubadala introduces Abu Dhabi aircraft technologies |
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Abu Dhabi, 05 November 2007 - Mubadala Development Company (Mubadala)Mubadala Development Company (Mubadala)
today unveiled Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies, a company positioned to become a top-tier total care provider in the maintenance, repair and overhaul (MRO) industry. MubadalaMubadala, a strategic investment and development company established and wholly owned by the Government of the Emirate of Abu Dhabi, is transforming the former Gulf Aircraft Maintenance Company (GAMCO)Gulf Aircraft Maintenance Company (GAMCO) into Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies. The new company is targeting a US $800 million revenue stream by 2012, and plans to invest more than US $500 million during the same period.
"Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies has been formed to expand the existing business and to convert the company into a total care provider," explained Waleed Al Mokarrab Al Muhairi, COO of MubadalaMubadala. "This will be achieved by increasing capabilities, enhancing the pool of expertise and entering new markets through partnerships, joint ventures and potential acquisitions.
Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies is positioned to be the foremost independent MRO provider in the Middle East and a major player in India and Europe. With leading-edge technologies and a favorable cost structure, it will provide shorter turnaround times through total maintenance solutions and classic MRO services for commercial and military airframe, engines and components.
The announcement of Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies is a cornerstone for MubadalaMubadala's aerospace strategy and furthers the development of the aviation sector in Abu Dhabi.
"Growth is being driven by rapid UAE and Middle East fleet expansions, with an addressable market of some US $4.5 billion. Given this scenario our goal is to grow revenue from a current consolidated base of US $300 million to US $800 million by 2012 with US $500 million in investment, primarily in facilities. We will leverage Abu Dhabi's premier geographic location at the heart of this growth to cater to regional, European and Asian customers," said John Byers, CEO of Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies.
"Change has been driven by industry demand as trends shift towards increased outsourcing, focused not just on cost savings, but also on service and quality. We will achieve our aim by developing several key cornerstone clients, developing value-added, knowledge-based services and expanding engine and component capabilities."
Investment will include a state-of-the-art dedicated heavy maintenance hangar, which can accommodate three fully-adjacent B777 aircraft and will soon break ground. This will be followed by an identical hangar in the second phase of the expansion plans, taking the total number of widebody bays to thirteen.
Plans also include the construction of an A380-size, fully-automated paint hangar and of a fully-dedicated light maintenance facility at the new midfield terminal complex at Abu Dhabi International Airport, starting with a hangar capable of accommodating two, fully-adjacent A380 aircraft. Additional line stations are also planned for the midfield terminal complex to achieve maximum on-time performance for departures out of the new Abu Dhabi International Airport. Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies has also set up outstations to provide line maintenance services at other UAE airports, including Sharjah International, RAK International, Al Ain International as well as the Al Bateen and Al Minhad airbases to serve the UAE Air Force.
"Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies will be a flagship operation of MubadalaMubadala's aviation business", says Al Muhairi, "and will bring significant benefits to the UAE capital".
"We expect Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies to generate a superior return on investment, be an important addition to MubadalaMubadala's and Abu Dhabi's aerospace proposition, continue strong relationships with airline customers, create attractive and desirable employment opportunities, and further contribute to the economic diversification of the Emirate," said Al Muhairi.
Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies will be making its exhibition debut at the upcoming Dubai Airshow, which takes place from the 11-15th November at the Airport Expo Dubai. The company will be located at stand 300 in the West Hall and at its chalet, number A.30.
-Ends-
About Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies
:Headquartered in Abu Dhabi, the capital of the United Arab Emirates, Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies
enjoys a 20-year-old history of aviation technical solutions expertise through its Gulf Aircraft Maintenance Company (GAMCO)Gulf Aircraft Maintenance Company (GAMCO) heritage. Today, the company is the Middle East's leading independent third-party technical solutions provider with a strong regional customer base and an international client portfolio stretching from Iceland in the west to Sri Lanka in the east. Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies is constantly evolving into a technically sophisticated, customer-oriented and flexible organization with a 2,800 strong workforce accommodating customer requirements and adhering to stringent quality and safety protocols. The company is constantly introducing new products and services in addition to tailor-made and bundled solutions such as its Total APU Support package - the first of its kind in the world.
Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies leverages a favorable cost base, a solid infrastructure and leading-edge technologies to be the logical partner of choice for airlines, air forces and freight operators seeking to outsource maintenance work to a reputable organization delivering shorter turnaround times and high quality services.
About MubadalaMubadala Development Company:
MubadalaMubadala is a strategic investment and development company headquartered in Abu Dhabi, the capital of the United Arab Emirates. MubadalaMubadala's mission is to create and maximize long-term returns as an engaged investor in high performing businesses and promising new ventures that will benefit partners, the Emirate of Abu Dhabi and its people.
The company currently employs over 250 staff and is a principal investor in, and manager of, large-scale industry-leading ventures with significant interests in energy, heavy industry, telecommunications, infrastructure and aerospace.
MubadalaMubadala also manages a growing and diversified international portfolio with stakes in global operations including the U.S. private equity firm Carlyle Group, Dutch fleet management giant LeasePlan Corporation and Italian car manufacturer Ferrari.
Through its Aerospace & Technology Unit, MubadalaMubadala develops and invests in major aviation and aerospace projects. The company is committed to assisting in the building of the UAE capital's intellectual property and knowledge base of the industry. MubadalaMubadala's joint ventures and wholly-owned companies are designed to generate strong financial returns for its partners as well as provide outstanding service and products for customers.
MubadalaMubadala is looking to be a global aerospace player and has assembled a highly skilled team to achieve this goal. It already has a significant aerospace community presence with wholly-owned subsidiaries Horizon International Flight Academy and Abu Dhabi Aircraft TechnologiesAbu Dhabi Aircraft Technologies, as well as stakes in Abu Dhabi UAV Investments, the Swiss airline technical services provider SR Technics and Italian aerospace outfit Piaggio Aero Industries.
© Press Release 2007
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