Mubadala signs MoU with Boeing

Abu Dhabi: Mubadala Development Company (Mub-adala), a strategic investment and development vehicle owned by the Government of Abu Dhabi yesterday signed a Memorandum of Understanding (MoU) with Boeing as part of the emirate's emerging aerospace strategy.

The MoU was signed at the Paris Air Show by Waleed Al Mokarrab Al Muhairi, COO of Mub-adala, and the leaders of the aerospace giant's two biggest business units, Jim Al Baugh, President and CEO of Boeing Integrated Defense Systems, and Scott Carson, President and CEO of Boeing Commercial Airplanes.

"This MoU reflects our mutual interest to identify, evaluate, research and define potential future projects in Abu Dhabi across a number of aerospace segments," said Al Muhairi.

"We view this partnership as a significant step forward in our strategy to develop sustainable aero-space capabilities in Abu Dhabi and to further add synergies to develop a cluster dedicated to advanced materials and composites," he said.

The MoU sets up a framework for discussion where Boeing provides strategic guidance to Mub-adala on the implementation of its aerospace strategy.

Primarily, the MoU allows for the joint identification of potential partners and suppliers to become directly involved in the production of advanced material aerospace components and raw materials in Abu Dhabi.

Together with Mubadala, Boeing will help to develop an Abu Dhabi-based aero-space Research and Development Centre.

"Boeing recognises the value of forming cooperative agreements with our Middle East stakeholders," said Al Baugh.

Platform: Gamco takes part in air show

Gulf Aircraft Maintenance Company (Gamco) is participating in the 47th Paris Air Show.

Commenting on participation at this international event, Saif Al Mughairy, Gamco's CEO, said: "As the leading maintenance, repair, and overhaul (MRO) company in the Middle East, we are keen to use this industry platform for networking and to explore the opportunities for new business." Gamco stand (A 20) is located in Hall 5 of the show.