Abu Dhabi’s Mubadala-owned aerospace firm gets into industrial services, confirms new CEO
Industrial operations will get increased attention as Sanad taps into ‘Operation 300Bn’
Dubai: Sanad, a unit of Abu Dhabi-based sovereign wealth fund Mubadala, has launched a strategy to expand beyond the aerospace sector. The company also appointed Mansoor Janahi, currently Deputy Group CEO, as the new Group CEO to lead growth under the new strategy. He takes the position from today (February 1).
The future offering will focus on providing technology-driven and integrated industrial services. The strategy and leadership announcements follow the launch of the UAE’s ‘Operation 300bn’ last year, which aims to more than double the industrial sector’s contribution to GDP to Dh300 billion by 2031. “Sanad stands on the cusp of a major transformation underpinned by the Fourth Industrial Revolution,” said Badr Al-Olama, Executive Director of UAE Clusters at Mubadala and Chairman of Sanad. “Building on our track record of more than three decades of experience in the commercial aviation sector, Sanad is ready to take the next step forward and become the source-to-go, one-stop shop for the broader industrial services sector.”
The new CEO began his career with Mubadala in 2008. He joined Sanad Aerotech as Deputy CEO in 2017 and since moved on to be CEO for Sanad Aerotech and Sanad Powertech and Deputy CEO for Sanad Group. During this time, Sanad Aerotech signed multiple agreements valued at over $7 billion with major original equipment manufacturers (OEMs) and airlines. He was also instrumental in Sanad’s expansion to new markets in Eastern Europe, South America and Asia.
The outgoing Group CEO Troy Lambeth will be supporting a number of strategic initiatives both within the Sanad Group as well as in support of Mubadala’s UAE Investments platform. “In line with its new strategy, Sanad will continue leveraging synergies with international partners, we will develop new and innovative service concepts that combine both our industrial and financial knowledge,” said Janahi. “Ultimately, our vision for the future is to develop profitable and sustainable industrial service offerings to address the ever changing needs of clients across multiple sectors.”