Mubadala Aerospace looking to expand into MRO services in North America, Asia Pac, Europe and ME
Mubadala Aerospace, a subsidiary of Mubadala Development Company, announced it is considering plans to expand into North America’s maintenance, repair and overhaul (MRO) sector through acquisition (Emirates Business 24/7, 01-Mar-2010). Meanwhile, Associate Director Business Development, Homaid Al Shemmari, stated Mubadala’s 35% stake acquisition in Piaggio Aero Industries in 2006 is helping toward the company’s target to manufacture aircraft in Abu Dhabi by 2018. Mubadala also holds a majority stake in SR Technics, wholly owns Abu Dhabi Aircraft Technologies and Al Ain based Horizon Flight Academy. The company recently signed a USD100 million financing deal for 12 spare engines with Air Berlin, though its Sanad Aero Solutions subsidiary.
Mubadala Aerospace: “We are looking at expansion in North America, Asia Pacific, Europe and Middle East. Greenfield project may not be possible in North America, so we could go for an acquisition while in markets like India we may explore greenfield projects…Our acquisition in Piaggio will help us achieve our set target. The Piaggio platform would be used for the project…In next 10 years there would be a 100% growth [of MRO] in the region. From the present USD2.3 billion the size of the market will increase to USD4.8 billion by 2020,” Homaid Al Shemmari, Associate Director Business Development. Source: Emirates Business 24/7, 01-Mar-2010.