New business will be first dedicated landing gear service facility in Middle East

Mubadala Aerospace, a business unit of Mubadala Development Company, and Goodrich Corporation (NYSE: GR) today signed a heads of agreement (HOA) to establish a joint venture company in the United Arab Emirates (UAE) to perform maintenance, repair and overhaul (MRO) work on landing gears. Completion of the definitive joint venture agreement is anticipated within the next twelve months, with the target of having the Middle East’s first dedicated landing gear facility fully operational by 2012.

The HOA was signed during the Farnborough Airshow by Homaid Al Shemmari, Executive Director of Mubadala Aerospace and Mike Brand, President of Goodrich Landing Gear. The signing was also attended by Troy Lambeth, the Chief Executive of Mubadala’s recently established spare engine and rotable leasing subsidiary, Sanad Aero Solutions (Sanad).

Under the terms of the HOA, the joint venture company will provide MRO services and rotable support for landing gear on commercial aircraft with its primary focus on customers in the Middle East region. Sanad is expected to play a key role in supporting the joint venture company with rotable landing gear assets. The company will initially support both Boeing and Airbus commercial aircraft, including the A380 and B777 models, with plans to extend to other commercial and military markets. The facility will be based in the city of Al Ain in the Emirate of Abu Dhabi, alongside other Mubadala Aerospace companies including Strata, the high-tech composite manufacturing facility and AMMROC, the world-class military MRO center formed through a joint venture between Abu Dhabi Aircraft Technologies and Sikorsky.

Brand said, “This represents a significant commitment to our customers in the fast-growing Middle East region. By combining the original equipment and MRO expertise of Goodrich with Mubadala’s growing aerospace network and rotable asset leasing, we can truly provide an improved value to customers in the region.“

Commenting on the agreement, Al Shemmari said, “This agreement emphasizes the continued development of Mubadala Aerospace’s global MRO network. In Goodrich we have a relationship with one of the world’s top aerospace companies that brings their expertise to a new regional hub in the Middle East. The region already has the world’s largest concentration of wide body aircraft and the new facility will deliver much needed landing gear capability for our existing and future customers.”

About Goodrich Corporation

Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information visit http://www.goodrich.com.

Goodrich Corporation operates through its divisions and as a parent company for its subsidiaries, one or more of which may be referred to as “Goodrich Corporation” in this press release. GR- Actuation and Landing Systems

About Mubadala Development Company

Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the management of partnerships and long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and contribute to the growth and diversification of its economy.

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional, and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors including aerospace, energy, healthcare, industry, information communications and technology, infrastructure, real estate and hospitality. For more information about Mubadala please visit http://www.mubadala.ae.

For more information, please contact:

Salam Kitmitto
Edelman Public Relations
E: salam.kitmitto@edelman.com
M: +971 (0)50 800 8268