Abu Dhabi-UAE: Mubadala Investment Company (Mubadala), the Abu Dhabi-based global investor, has signed a Memorandum of Understanding (MoU) with Honeywell International Inc. (Honeywell), the Fortune 100 software-industrial company that produces a variety of connected technologies for aviation, buildings and infrastructure, industrial facilities and energy plants. The two entities are set to collaborate to introduce a suite of products and services to the Middle East, relating to the manufacturing, development and maintenance, repair and overhaul of aerospace products across the region.
The MoU was signed by Badr Al-Olama, Director of Aerospace at Mubadala, and Randy Anderson, President, Aerospace, Europe, Middle East, Africa and India at Honeywell, on the sidelines of the Dubai Airshow 2017, in the presence of senior management from both entities.
Mubadala and Honeywell intend to establish Middle East capability for three major Auxiliary Power Units (APUs), including spares pool management, predictive maintenance and associated connectivity. In addition, the alliance intends to explore facilitating aircraft engine and component leasing, as well as next generation air traffic management solutions, and the manufacturing of advanced materials in the region.
Mr. Al-Olama said: “As Mubadala continues to invest in an agile and advanced ecosystem of aerospace products and services, our relationship with Honeywell, a Fortune 100 company, gives us access to a leading suite of high-tech offerings that will help differentiate our next phase of growth. Bringing these regional firsts to the heart of Abu Dhabi’s thriving aerospace hub, alongside a world-class company such as Honeywell, aligns with our commitment to leading-edge, competitive aerospace offerings.”
Mr. Norm Gilsdorf, President, Honeywell, High Growth Regions, Middle East, Russia, Turkey & Central Asia, commented: “As a global software-industrial company, Honeywell has supplied the aerospace industry with leading technologies and services for over 100 years. We are proud to work with Mubadala to build local capability through advanced manufacturing and MRO services. This alliance represents an important step forward for the regional industry. Together, we can deliver solutions that build a safer, smarter, more sustainable, and more connected world.”
The Mubadala-Honeywell envisaged collaboration has the potential to expand each company’s existing services portfolio, jointly creating new opportunities that would incorporate engine technologies and connectivity, as well as advanced material technologies, to enhance the value proposition for end-users.
The collaboration would link Honeywell with key Mubadala businesses Strata Manufacturing (Strata), Turbine Services & Solutions (TS&S) and Sanad Aero Solutions (Sanad).
Furthermore, both companies intend to advance Honeywell’s existing air traffic management systems, including its SmartPath™ Ground Based Augmentation System (GBAS). This technology – the only certified GBAS in the world – uses satellite navigation to enable aircraft to fly a range of different approach paths into an airport. This increases airport and airspace capacity, and reduces delays.
“This MoU is poised to achieve greater results than the sum of its parts because of the length and depth of our partnership – we will enhance our local and global aerospace capabilities, support our competitive offering, and leverage our core areas of expertise for a bright future, in the UAE and beyond,” concluded Al-Olama.