Abu Dhabi: Al Ain-based Strata Manufacturing’s revenue for 2015 crossed Dh400 million, up 27 per cent on 2014 figures, according to a statement issued by the company on Wednesday.
Strata, which is fully owned by Mubadala, delivered over 433 shipsets, consisting of more than 7,511 parts, representing 29 per cent growth in the total number of parts manufactured in 2014, the company said.
The company signed a number of deals last year including a multimillion US dollar contract to manufacture Airbus A350-1000 Flap Support Fairings (FSFs) from Swedish company Saab Aerostructures through 2023. It also signed a $250 million contract to provide aileron assemblies to Airbus for the A330 and A330neo, making Strata the single source supplier of ailerons assemblies to Airbus for its A330 programs.
Badr Al Olama, CEO of Strata, said in a statement: “For the last five years we’ve focused on developing Strata’s capabilities in order to become a globally competitive aerostructures manufacturer in line with the Abu Dhabi Economic Vision 2030, and we are extremely proud of our achievements to date.”
“In 2016, we will embark on a year of transformation. This year we will accelerate into the next stage of growth — driven by innovation, digitisation and the further development of global value chains.”
Strata said they placed a strong emphasis on growing its local supplier network, and now more than 50% of company’s suppliers are based in the UAE and have developed extensive knowledge and experience of the aerospace industry.
