Mubadala’s aerostructure manufacturer contributing to Abu Dhabi Economic Vision 2030.
Innovation, digitization and global value chain development to drive future growth.
Abu Dhabi, UAE: Strata Manufacturing PJSC (Strata), the advanced composite aero-structures manufacturing facility wholly owned by Mubadala, today announced key business highlights for 2015 as the company continues to focus on expanding its presence across the aerospace industry through the development of local and global supply chains and the expansion of its client base.
Strata’s revenue for 2015 crossed 400 million dirhams, up 27 percent on 2014 figures. During the year, Strata delivered over 433 shipsets, consisting of more than 7,511 parts – representing 29 percent growth in the total number of parts manufactured in 2014. Strata also embarked on an expansion project to increase the shop floor area to 31,500 m2, adding a new extension of 10,000 m² of usable production space to accommodate new work packages.
Commenting on the announcement, Badr Al Olama, CEO of Strata, said: “For the last five years we’ve focused on developing Strata’s capabilities in order to become a globally competitive aerostructures manufacturer in line with the Abu Dhabi Economic Vision 2030, and we are extremely proud of our achievements to date. In 2016, we will embark on a year of transformation. This year we will accelerate into the next stage of growth – driven by innovation, digitization and the further development of global value chains.”
During 2015, Strata signed a number of deals that further drove the company’s global competitiveness and supply chain capabilities. Strata also placed a strong emphasis on growing its local supplier network in 2015, and now more than 50% of Strata’s suppliers are based in the UAE and have developed extensive knowledge and experience of the aerospace industry. Strata also increased the spend on local procurement to almost 40 percent, an increase of 10 percent from 2014.
Deal highlights include:
With the focus firmly on future growth, Strata also announced the creation of a new Research & Development (R&D) unit to support its growing portfolio of products and capabilities to develop manufacturing technologies for current and future work packages.
The R&D initiatives will be run in collaboration with Strata’s international partners and local research facilities established within leading UAE academic institutions.
“Our new R&D offering promotes technological development within the aerospace industry and will strengthen Strata’s global competiveness – paving the way for us to become one of the top three composite aerostructure manufacturing companies globally,” Al Olama said.
Strata continues to invest in building a leading Emirati workforce in the aerospace industry, it celebrated the growth of its national capabilities within one of the most complex industries worldwide, Strata currently has 19 Emirati female Team Leaders from a group of 40 team leaders and 2 Emirati females within a group of 8 Team Supervisors. The company also celebrated in 2015 the graduation of 41 UAE nationals from the eighth and ninth classes of its Aerostructures Technician Training Program.
Created in partnership with the United Arab Emirates University (UAEU) and Lockheed Martin in 2010, the program was established to develop the knowledge base and skill set of young Emirati technicians in a hands-on and engaging environment.
Strengthening the program further, The Ministry of Social Affairs and Strata signed a Memorandum of Understanding (MoU) to partner in the advancement and skill development of UAE Nationals. The partnership aims to build a leading Emirati workforce in the aerospace industry, and strives to enhance the standard of living for people receiving social support, by providing them with professional career opportunities.