UAE’s Strata signs agreement with Spain’s Aciturri
Strata and Aciturri Aeronáutica aim to boost the global aerospace sector by strengthening vital supply chain capabilities and bilateral ties between Spain and the UAE
Strata, an aerostructures manufacturing company wholly owned by Mubadala Development Company, and Aciturri Aeronáutica, a Spain-based tier-1 supplier for the aeronautic industry’s original equipment manufacturers (OEMs), have signed a memorandum of understanding (MoU).
The partnership will see the two companies collaborating to boost the global aerospace sector, by strengthening vital supply chain capabilities and bilateral ties between Spain and the United Arab Emirates.
The MoU was signed at the inaugural Global Manufacturing and Industrialisation Summit (GMIS), by Badr Al Olama, CEO of Strata, and Gines Clemente Ortiz, CEO of Aciturri, state news agency, WAM, reported.
Under the terms of the MoU, Strata and Aciturri will consider new opportunities to strengthen their presence in the global aerospace supply chain, including collaboration for shared resources and capabilities.
Both companies will leverage their strengths in technology, human capital, and existing knowledge of aerostructures to further advance their competitive advantage within the aerospace sector.
The partnership will also explore the viability of new commercial capabilities and the possible establishment of a facility overseas, as well as assess potential opportunities for work transfer and the sub-contracting of existing work packages that align with each company’s vision.
Commenting on the agreement, Al Olama said: "The MoU will unlock and deliver ideas between the two companies for new technologies and R&D services that will drive value for all.
"The collaboration also has the promise of expanding our production line capacity, which will help us support the orders that have already been placed by Strata’s global manufacturer partner network for the delivery of more complex and larger scale aerostructures.”
Ortiz, meanwhile, noted: "After 40 years working for the aeronautic industry, we believe that providing solutions for the challenges posed by a globalised industry require collaboration agreements between firms with a universal strategy."