EADS welcomes Mubadala to its base of global suppliers
Major facilities to be operational in Abu Dhabi by 2010
The EADS Mubadala agreement has three core components:
Firstly, in cooperation with EADS, Mubadala's recently announced composites plant will develop full design-to-build capabilities, significantly leveraging and advancing Mubadala Aerospace's range of products and services. This will help the Abu Dhabi facilities to become a tier one supplier for the next generation of commercial aircraft. The plant will start operations in 2010, producing composite aerostructures for Airbus and potentially other manufacturers. Initially the plant will provide spoilers and flap track fairings for the Airbus A330, A340, A350 and A380. The planned next phase will see the manufacturing of primary structures and components.
As part of the agreement, EADS will work with Mubadala Aerospace to develop an Engineering Centre as well as Research and Development facilities in Abu Dhabi. These facilities will be created to provide full design and development capabilities for composite aerostructures. As a result, ultimately aerostructures will be designed developed and manufactured in Abu Dhabi.
Abu Dhabi Aircraft Technologies (ADAT), a 100% Mubadala owned company, and EADS will expand MRO capabilities in Abu Dhabi. The agreement will accelerate ADAT's joining of Airbus' global MRO network.
The strength of Abu Dhabi's economic diversification drive and geographical position as a link between East and West makes the Emirate a natural location for a major aerospace hub. EADS is fully aware of the potential economies of scale and the first mover advantages which result from the link with a manufacturing base in Abu Dhabi.
"Mubadala is a major player in the development of the Abu Dhabi economy and EADS is proud to reinforce its links with such a partner - one that has the ambition to become a major player in the highly technological Aerospace industry", said Louis Gallois, Chief Executive Office of EADS.
Mubadala CEO and Managing Director Khaldoon Khalifa Al Mubarak said: "Mubadala has been executing a strategy of leveraging Abu Dhabi's geographic and economic position to build an aerospace hub in the Emirate. Today's announcement is a major watershed in this process, and we are delighted to be working with EADS."
Both companies, recognizing the long term opportunities this partnership presents, have agreed to invest significantly in education and training programs. Agreements with Universities based in the Emirate of Abu Dhabi and vocational training courses within EADS and Mubadala aerospace facilities are therefore planned.
Mubadala Development Company (Mubadala) is a Public Joint Stock Company headquartered in Abu Dhabi, capital of the United Arab Emirates. Its focus is on developing and managing an extensive and economically diverse portfolio of commercial initiatives. It does this either independently or in partnership with leading international organizations. Mubadala's commercial strategy is fundamentally built on long term capital intensive investments that deliver strong financial returns.
The company manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. Through its investment and development projects, Mubadala is both a catalyst for, and a reflection of, the drive for economic diversification of the Emirate of Abu Dhabi. Its impact is evident domestically and internationally in sectors such as energy, aerospace, real estate, healthcare, technology, infrastructure, and services.
Mubadala's sole shareholder is the Government of the Emirate of Abu Dhabi. For more information about Mubadala, its partnerships and activities please visit www.mubadala.ae.
EADS is a global leader in aerospace, defence and related services. In 2007, EADS generated revenues of €39.1 billion and employed a workforce of about 116,000. The Group includes the aircraft manufacturer Airbus, the world's largest helicopter supplier Eurocopter and EADS Astrium, the European leader in space programmes from Ariane to Galileo. Its Defence & Security Division is a provider of comprehensive systems solutions and makes EADS the major partner in the Eurofighter consortium as well as a stakeholder in the missile systems provider MBDA. EADS also develops the A400M through its Military Transport Aircraft Division.