Mubadala Investment Company, Abu Dhabi’s investment firm with around US$130 billion in assets, may invest in aerospace manufacturing in the US and North Africa to be close to its customers, Boeing and Airbus, who use aircraft parts made by its subsidiary Strata, a company official said on Sunday.
Potential investments in the next one to five years in the US and North Africa - particularly Morocco, given its proximity to Europe - come as Mubadala's aerospace unit seeks to turn Al Ain-based composite aerostructures manufacturing firm Strata into a global company, said Badr Al Olama, director of the Aerospace Business Unit at Mubadala.
“Do you think that Strata can be globally relevant and globally competitive by having one facility in Al Ain? Absolutely not,” said Mr Al Olama.
“As we grow from making smaller parts to medium sized parts, from [the] secondary level…to primary parts… it makes absolute sense to invest in the US because you would like to save on the logistics headache, [and] be closer to your suppliers.”
Mubadala is investing globally to help transfer technology to Abu Dhabi, where it is among the companies spearheading efforts to boost the contribution of the manufacturing sector in the emirate’s GDP.
Mubadala’s remit falls in line with the UAE’s overall efforts to diversify revenues away from oil, develop downstream industries and create high-skilled jobs for the local population.
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Mr Al Olama said Strata needs to have a global reach, but declined to say whether investments will come first to the US or North Africa. Investments in the US would focus on airframe of the aircraft, he said.
“You have to have a global footprint, you have to be able to distribute [with] access to technology that is low-cost, with co-proximity to your customers base and obviously Boeing being located in [the] US it is a no-brainer for us [to invest],” he said.
“[The timeline] is driven by the opportunities; whenever we zero in on the products that make sense to manufacture and supports Boeing…that’s the time that could be one or five [years]. Between both destinations, to be closer to the customer is going to be more important for Strata going forward.”
Strata started manufacturing operations in 2010 with product lines that have included wing and fin parts for the Airbus A330, A340 and A380 aircraft, as well as Boeing’s 777 and 787. The second production line in Strata's expanded facility in Al Ain also represents a step up for Airbus, with a contract to make horizontal tail planes for the A320.
Strata said in November it had completed delivery of its first set of A350-900 inboard flaps to Airbus and plans to ramp up production of these parts this year and in 2019.
Strata delivered 521 shipsets, consisting of more than 9,103 components in 2016, up by 20 per cent from 2015, its chief executive Ismail Abdulla said in March.
Strata’s order book is now at a record US$7.5 billion, enough work to take both the new and planned plants at Al Ain's facility through to 2035 at least, the chief executive said at the time.
FINAL RESULT
Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)
Wanderers
Tries: Gormley, Penalty
cons: Flaherty
Pens: Flaherty 2
Tigers
Tries: O’Donnell, Gibbons, Kelly
Cons: Caldwell 2
Pens: Caldwell, Cross
Teams
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals
PSA DUBAI WORLD SERIES FINALS LINE-UP
Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)
Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)
Match info
Liverpool 4
Salah (19'), Mane (45 2', 53'), Sturridge (87')
West Ham United 0
MATCH INFO
Final: England v South Africa, Saturday, 1pm
The Bio
Amal likes watching Japanese animation movies and Manga - her favourite is The Ancient Magus Bride
She is the eldest of 11 children, and has four brothers and six sisters.
Her dream is to meet with all of her friends online from around the world who supported her work throughout the years
Her favourite meal is pizza and stuffed vine leaves
She ams to improve her English and learn Japanese, which many animated programmes originate in
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
COMPANY%20PROFILE
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COMPANY%20PROFILE
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The low down on MPS
What is myofascial pain syndrome?
Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (connective tissue that covers the muscles, which develops knots, also known as trigger points).
What are trigger points?
Trigger points are irritable knots in the soft tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and sustained posture are the main culprits in developing trigger points.
What is myofascial or trigger-point release?
Releasing these nodules requires a hands-on technique that involves applying gentle sustained pressure to release muscular shortness and tightness. This eliminates restrictions in connective tissue in orderto restore motion and alleviate pain. Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.
