Boeing and Mubadala sign strategic accord

Aircraft manufacturer Boeing and Mubadala Development Company yesterday signed a wide-ranging strategic framework agreement covering key areas of collaboration.

It comes a day after Emirates Business reported that US aircraft maker was close to signing a deal with the Abu Dhabi-based business development and investment company.

As a part of the agreement, Boeing said that itself and Mubadala intend to develop mutually beneficial initiatives in areas where there is strategic alignment between the two companies.

The collaboration will include "composite manufacturing, engineering, research and development, commercial maintenance, repair and overhaul, military maintenance and sustainment, pilot training and people development", said Boeing.

Jim Albaugh, President and Chief Executive Officer, Commercial Airplanes, Boeing, told Emirates Business on Sunday: "At Boeing we are always trying to look at new suppliers, we are always trying to improve the partners that we have. In terms of investments, we have relationships with both Dubai Aerospace Enterprise (DAE) and Mubadala."

Meanwhile, Mubadala, which launched its aerospace subsidiary, Strata Manufacturing, last week, said its composites plant is scheduled to deliver parts to European plane manufacturer, Airbus, in 2010.

Airbus tied up with Mubadala almost a year-and-a-half to build components for the Airbus A380.

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