Abu Dhabi: Instilling pride by educating employees on quality, changing traditional mindsets and gaining the confidence of customers with world-class products are some of the measures that have brought immense benefits, said Badr Al Olama, Chief Executive Officer of Strata Manufacturing, an advanced composite aerostructures manufacturing facility, fully owned by Mubadala Development Company.
Al Olama was speaking at a seminar titled “Diversification it’s not only GDP”, organised by Masdar Institute of Science and Technology as part of the Lecture Series Programme. He was later presented with a memento by Hamza Kazim, Vice-President for Operations and Finance, Masdar Institute of Science and Technology, and Dr Mohammad Sassi, Interim Dean of Faculty.
Within a short span since it began operations, Strata has tripled the value of its contracts to $7.5 billion (Dh27.5 billion) in 2013. With its 21,600-square metre facility in Al Ain, Strata has earned revenues exceeding Dh220 million in 2013 with investments of around $320 million. Currently, the company manufactures A330/340 Flap Track Fairings, A330/340 Aileron Panels with assemblies, A330/340 Spoilers, A380 Flap Track Fairings, B777 Ribs, B787 Ribs and the ATR Vertical Fin.
“We make these components under stringent guidelines and supervision from specific aircraft manufacturers. Strata is also one of the very few companies worldwide to have built such a facility, started manufacturing customised products and managed to obtain approvals within the first year of operation. We consider this as one of our major achievements and we believe we have the capability to further build on our success with our employees’ commitment and with support from Mubadala,” Al Olama said.
