Dubai: Strata Manufacturing, the aero-structures maker wholly owned by Mubadala Investment Company, signed a deal with Italy-based Leonardo S.p.A. to collaborate on developing airplane components.
The memorandum of understanding between the two is an extension of their 10-year association, and will see the two companies work together on the development of aero-structure components for major equipment manufacturers.
Under the deal, Strata and Leonardo will work to expand their presence in the global aero-structures sector by using their combined engineering experience and production capabilities to develop new technology.
The memorandum covers the provision of technical support services and knowledge exchange from Leonardo.
Strata said in a statement on Monday that the goal of the deal is to grow both businesses in global equipment manufacturing programmes. It said such growth will come through fostering new opportunities to enhance Strata’s technological knowledge and capabilities.