29-Mar-2011 12:38 PM

Mubadala Aerospace in talks with Boeing over part-supply order

Mubadala Aerospace Executive Director Hommaid al-Shemmari stated the company is in talks with Boeing over a contract to make components for the manufacturer (Bloomberg, 28-Mar-2011). Mubadala is working on three to four new projects including JVs in 2011, he said, adding that the company is "working with Boeing on multiple levels". He stated talks are "still at the informal stage. Maybe within the next few months we could make an announcement.”  Mubadala Aerospace aims to break even by 2012 with Mr Shemmari stated that this breakeven result is targeting "even though we will start new projects and companies". He added that the company is constantly on the lookout for acquisitions and is eyeing a number of opportunities.

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