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UAE's Strata Manufacturing Company's Contracts Value $7bln Until 2030

Posted On November 9, 2017

UAE's Strata Manufacturing Company's Contracts Value $7bln Until 2030

Ismail Abdulla, CEO of Strata Manufacturing, which is fully owned by the Mubadala Investment Company, said that the company had committed to contracts amounting to AED27.5 billion until 2030, with large airplane manufacturers such as Boeing and Airbus.

He said that more than 2,000 airplanes around the world were using parts made in the UAE, which showed Strata’s, as well as other national companies’, contribution in achieving Abu Dhabi Economic Vision 2030.

Since its establishment in 2009, the company has gained the trust of the largest airplane manufacturers around the world owing to the universal quality of its products and its commitment to deadlines set by the airplane manufacturers.

He highlighted the fact that national companies formed 56 percent of the total suppliers of Strata, while 88 percent of the local suppliers of the company were the small and medium enterprises, which contributed in supporting Emirati entrepreneurs and capacities in the aviation industry.

Abdulla remarked that the company was moving forward to promote its competitiveness among the world airplane manufacturers through its keenness to expand its suppliers' database in the UAE.

The total facility space of the company has increased to reach 31,500 square metres coinciding with the surge in the production lines to reach 10 lines by the end of 2016, compared with the one production line in 2010. The increase came after the company signed supply contracts with major global aircraft manufacturers.

The CEO Strata said that the company was about to implement several research and development projects, in cooperation with its international partners and local universities, such as the Masdar Institute of Science and Technology, Khalifa University and the Petroleum Institute.

He underlined that the UAE nationals constituted 51 percent of the labour force in the company, which has more than 700 employees, with Emirati women also playing important roles in the company by occupying prominent positions at several levels. He added that Strata always sought to increase the rates of Emiratisation in all sectors according to its planned programmes and plans.

 

Source: Zawya

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