Mubadala Development Company (Mubadala) announced on Monday that it had signed a USD 2.5 billion agreement with Boeing Company, in which the UAE-based company will supply advanced composites and machine metals to the U.S. plane maker.
This strategic agreement would strengthen the relationship between Mubadala and Boeing on the long term, and make Mubadala a first-class resource for Boeing, Homaid Al-Shemmari, executive director of Mubadala Aerospace, Communications Technology, and Defense Services, said in a press statement on the sidelines of the 2013 Dubai Airshow.
Also, the agreement provides Mubadala with an opportunity to supply advanced composites and machined metals to Boeing commercial programs, including the 787 and 777X, added Al-Shemmari.
In addition, he noted that the two companies would work together to develop pre-preg and carbon fiber manufacturing capabilities in the Emirate of Abu Dhabi, affirming at the same time that the agreement will support the ongoing development of the aero-structures industry and create raw-materials capabilities in the United Arab Emirates.
Moreover, Al-Shemmari said that in accordance to the agreement; Strata Manufacturing, a Mubadala subsidiary, is positioned to be a supplier of the 787 Dreamliner vertical fins, asserting that Boeing and Mubadala remain committed to continue their close cooperation to develop Emirati aerospace capabilities.