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FINANCIAL NEWS
Abu Dhabi Mubadala Aerospace to create 10,000 jobs
29 Jan 2012
(MENAFN) Abu Dhabi-based Mubadala Aerospace unveiled plans to create 10,000 new positions by 2030, in a bid to become a global aviation hub, Arabian Business reported.
Executive director Homaid Al Shemmari said that the company also plans to build the second phase of its Al Ain factory by 2016.
The company, whose subsidiary Strata makes composite parts for Airbus planes, is also keen to boost capacity to meet the terms of a deal signed with Boeing in March 2011 to produce wing flags for the 787 Dreamliner.
Mubadala Aerospace accounted 20 percent of parent Mubadala Development Co.’s revenues in the first half. Mubadala Development Co.’s revenue in the period grew 70 percent to USD3.7 billion.
Al Shemmari said the company seeks to build a jet business aviation aircraft by the end of this decade.
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