DUBAI (Zawya Dow Jones)--Abu Dhabi investment vehicle Mubadala Development Co. will become a tier-one aircraft parts supplier to Boeing Co., under an expanded partnership agreement first announced in 2009, the companies said Monday.
Boeing will also help sustain United Arab Emirates military aircraft and " provide support to military aviation platforms in the U.A.E.," a statement said.
"Our plan is to work with Strata and Mubadala and make them a tier-one supplier," Boeing Commercial Airplanes President and Chief Executive Officer Jim Albaugh said in an announcement at the Dubai Airshow. "This means they will eventually build some very important products for our airplanes."
Executives said the signing of work packages was imminent, but declined to provide further detail.
Abu Dhabi, the largest and richest of the United Arab Emirates, is building an aerospace industry as part of a long-term plan to diversify the economy away from its oil reliance.
Mubadala has taken stakes in companies like Italy'sPiaggio Aero Industries and SR Technics, and is building airplane parts at a composite aerostructures manufacturing facility--called Strata--in the emirate. Strata delivered its first product--A330/A340 Flap Track Fairings--to FACC in Austria, in November last year.
Mubadala and Boeing first announced their strategic partnership agreement in 2009.
The first part of the expanded agreement announced Monday, between Mubadala unit Strata and Boeing Commercial Airplanes, "defines a strategic roadmap" through which Strata stands to become a tier-one supplier to Boeing.
The second part of the agreement will see Mubadala's Advanced Military Maintenance Repair and Overhaul Center, or Ammroc, unit and Boeing Defense, Space & Security work together "to ensure the right support infrastructure is in place for the operational readiness of U.A.E. Armed Forces aircraft, including Boeing-built Apaches, Chinooks and C-17s in its fleet."
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