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Honeywell and Mubadala Aerospace to expand existing agreement to form Maintenance Repair and Overhaul strategic partnership

Mubadala Aerospace’s Abu Dhabi Aircraft Technologies and SR Technics to obtain enhanced technical and material support for Honeywell systems and components on Airbus and Boeing aircraft, including the Boeing B787 and Airbus A350

19 July 2010

Mubadala Aerospace’s Abu Dhabi Aircraft Technologies and SR Technics to obtain enhanced technical and material support for Honeywell systems and components on Airbus and Boeing aircraft, including the Boeing B787 and Airbus A350

Mubadala Aerospace, a business unit of Mubadala Development Company, and Honeywell (NYSE: HON) today announced an intent to grant special rights and licenses to Mubadala Aerospace’s Abu Dhabi Aircraft Technologies (ADAT) and SR Technics as authorized service providers for Honeywell mechanical components and avionics on various in-service aircraft, and the Boeing 787 and Airbus A350 when the platforms come into service.

Under the partnership, Honeywell will provide materials, training and technical support to ADAT and SR Technics to provide full service component maintenance services including asset management to airline operators. As part of this partnership SR Technics will utilize its flagship Integrated Component Solution offering, to support customers operating Honeywell equipment. The Integrated Component Solution offering shall also be extended to ADAT.

Today’s agreement builds on existing relationships with Honeywell for provision of technical and materials support for aircraft components at SR Technics and aircraft auxiliary power units at Abu Dhabi Aircraft Technologies.

“Honeywell is confident that Mubadala Aerospace’s extensive and growing MRO capability and expertise, geographic footprint, and customer relationships will ensure that operators of Honeywell’s equipment will receive seamless support for its customers,” said Tim Mahoney, CEO of Honeywell Aerospace.

Homaid Al Shemmari, Executive Director of Mubadala Aerospace, commented: “This partnership brings essential component capability to ADAT and SR Technics. Honeywell Aerospace is a world-leading manufacturer which provides materials and components for both Boeing and Airbus aircrafts and this marks an important expansion to our global MRO capabilities.

Mubadala Aerospace is developing a global MRO network with full scale engine, component and rotable capabilities, and engine and component leasing, which provides tailor-made MRO solutions developed specifically for individual customers’ requirements. As part of this partnership, Mubadala Aerospace’s Sanad Aero Solutions will look to provide rotable leasing for Honeywell, ADAT and SR Technics MRO customers.”

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.

About Honeywell

Based in Phoenix, Arizona, Honeywell’s aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.

Honeywell International (http://www.honeywellnow.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges.

For more news and information on Honeywell, please visit http://www.honeywellnow.com

For more information, please contact:

Salam Kitmitto
Edelman Public Relations
E:
M: +971 (0)50 800 8268