Nov. 17 (Bloomberg) -- Mubadala Aerospace, an Abu Dhabi state-owned maker of aircraft parts, is seeking partners from the U.S. and Europe to help it expand in component manufacturing.
The company is looking for an industrial partner for its Strata unit, which has an order book of $2.7 billion and supplies parts to Airbus SAS, Executive Director Hommaid al- Shemmari said in an interview at the Dubai air show yesterday.
Abu Dhabi, home to about 7 percent of the world’s proven oil reserves, aims to diversify its economy by investing in infrastructure, industrial, transport and tourism projects. Mubadala Aerospace has partnerships with Finmeccanica SpA, General Electric Co., Piaggio & C. SpA, and the company said it expects to create 10,000 jobs by 2018.
“We want to go and make a global play,” said Shemmari. “We need to quickly develop engineering and research and development capabilities.”
The aerospace unit, which manufactures composite aircraft parts for Airbus’s A330 and A340 planes, also plans to start producing structures for Boeing Co. planes.
--Editors: Thomas Mulier, Jerrold Colten
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