Sanad, the global aerospace engineering and leasing solutions leader wholly-owned by Abu Dhabi's Mubadala Investment Company PJSC (Mubadala), and Triumph Group, Inc. (TRIUMPH) [NYSE: TGI], a US-based aerospace manufacturer and MRO provider, with significant engine component repair experience, today announced the signing of a memorandum of understanding (MoU) outlining their plans to collaborate on the provision of next-generation engine Maintenance, Repair and Overhaul (MRO) capabilities in the United Arab Emirates (UAE).
Through this strategic relationship, Sanad and TRIUMPH intend to collaborate to provide critical MRO solutions for multiple engine types for aerospace and aviation industry operators across the Middle East and Africa (MEA) region.
The partnership would advance Sanad's service offerings beyond engine overhauls while simultaneously providing TRIUMPH with an immediate footprint in the Middle East & Africa and jointly establishing a dedicated "Center of Excellence" in Abu Dhabi, where Sanad and TRIUMPH can offer their unique MRO capabilities for next generation engines to global customers. The parties also intend to jointly provide MRO solutions for V2500, CFM and GE90 engine accessory repairs and overhauls.
"The discussions around this partnership with Sanad have progressed very quickly and confirmed the need for establishing the only comprehensive engine components MRO in the Middle East region," said Jim Berberet, President of TRIUMPH Product Support. "Aside from offering a mature business environment and strategic geographical proximity at the intersection of Europe, Asia and Africa, Abu Dhabi is very active and well-known as a global aerospace hub. Sanad, a well-established leader in global MRO services, also boasts significant in-market skillsets to support the strategic relationship. We are very excited to better serve one of the fastest growing markets in the world and offer reliable solutions on legacy and new generation engines together with Sanad."
Mansoor Janahi, Group CEO of Sanad, added: "As part of our ongoing expansion efforts across the Middle East and emerging African markets, our strategic alliance with TRIUMPH will amplify Sanad's ability to offer best-in-class MRO solutions to major industry players across two continents – and beyond. We look forward to collaborating with TRIUMPH, sharing best practices, offering new service solutions to our customers, and further elevating Abu Dhabi's standing as a globally recognized capital of MRO excellence."