Wednesday, Apr 18, 2012
Gulf News
Abu Dhabi: Boeing yesterday said it has awarded a $1 billion (Dh3.67 billion) direct contract to Mubadala Aerospaces advanced composite aerostructures facility, Strata Manufacturing, to build carbon-composite structures for the US planemaker.
The ten-year deal will see Strata producing ribs which form elements of the structure of a wing, for the empennage [or the tail section] of the B777 as well as become a future supplier of the vertical fin ribs for the B787 Dreamliner.
The move is in line with the UAEs goal to become a key manufacturer for the aerospace industry and further Abu Dhabis plans to become a global aerospace hub, a key part of the emirates economic diversification plans.
The contract is almost of the same value as our contract with Airbus and Alenia Aermacchi, which each was at about $1 billion. The [Boeing] contract is close to that value, said Humaid Al Shemmari, executive director of Mub-adala Aerospace.
He added that Strata will start manufacturing ribs for the B777 in early 2013, and later for the B787.
Second round
That is, of course, if we prove the quality, pricing and the safety standards needed. Then we would start with the second round of production, Al Shemmari told reporters yesterday on the sidelines of the Global Aerospace Summit, adding that the companys main target is to build the vertical fins for the B787 by 2016-2017.
It will all be in stages, he added.
Were hoping that by 2014 the sales target would be over $300 million annually,
Saj Ahmad, analyst with StrategicAero Research, told Gulf News that this move demonstrates Boeings confidence in Mubadala, further establishing that the Abu Dhabi-based aerospace company has moved leaps and bounds over the last several years in composite technologies.
It means that Mubadala can soon enjoy being a primary tier one supplier to Boeing on future programmes like the 777X and the 787-10X as well as possibly on the 737MAX.
Meanwhile, future partnership initiatives between the two companies could include military maintenance and sustainment activities, as well as pilot training and people development, Boeing said in a statement.
Boeing has been committed for several years to building a partnership with Mubadala Aerospace that brings long-term, mutual benefits to both companies, said Jim Albaugh, President and chief executive officer of Boeing Commercial Airplanes. He added that the UAE leaders have transformed its economy with aerospace investment and development.
By Shweta Jain, Senior Reporter
Gulf News 2012. All rights reserved.
