Mubadala Adds New Combined Portfolio at Dubai Airshow
Mubadala, Abu Dhabi’s investment diversification catalyst, will launch a new combined Aerospace, Communications Technology and Defense Services (ACTDS) portfolio, a merger of business units designed to maximize intra-unit synergies, at this year’s Dubai Airshow.
Some 21 businesses in the ACTDS portfolio incorporate international industry leaders and emerging domestic players with more than 10,000 global employees. Together, the ACTDS businesses contributed almost 40 percent of Mubadala’s revenues in the first half of its 2013 fiscal year.
“Seven years after taking its first steps into the industry, Mubadala is well positioned to become a key global aerospace player, delivering sustainable financial and social returns for Abu Dhabi,” said Homaid Al Shemmari, executive director of Mubadala ACTDS. “Our goal is to further develop our existing capabilities and market position to become a diversified global tier one aerospace supplier focusing on airframes and engines in the commercial and military sectors. We have built our expertise in high-growth areas and developed strong relationships with global OEMs, industry suppliers and airlines, as well as with international government stakeholders.”
Ten of Mubadala’s aerospace, communications technology and defense services-related subsidiary companies are exhibiting at the show, including Abu Dhabi Aircraft Technologies, Advanced Military Maintenance Repair and Overhaul Center, Horizon International Flight Academy, Strata Manufacturing, Nibras Al Ain Aerospace Park, Piaggio Aero, SR Technics, Sanad Aero Solutions, Al Yah Satellite Communications Company and Bayanat for Mapping & Surveying Solutions.
Mubadala aims to create 11,000 jobs for Emirati scientists, engineers and technicians and has committed to an annual research and development budget of $10 million in 2015, in partnership with OEMs and academic institutions.