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FINANCIAL NEWS
UAE Strata’s revenue to triple by 2020
09 Dec 2014
(MENAFN) Strata, the Abu Dhabi aircraft parts business, said that it expects that its revenue from existing operations will triple by 2020, as well as plans to open a second factory in the UAE in 2017, Emirates 24/7 reported.
Strata, which is the manufacturing arm of Abu Dhabi’s Mubadala Aerospace, is the Gulf’s sole aircraft parts maker, with the company being responsible for building components, including fuselages, for leading plane makers Airbus and Boeing among others
The company, which revenue currently stands at USD81.7 million for this year, said it expects that its revenue will probably hit USD272.19 million by 2020 and that it expects that at least 600 jobs will be created when the second plant opens, nearly doubling its current workforce.
Strata’s second factory is going to be built near its existing plant in the desert oasis town of Al Ain, though it will be more automated and produce at least two or three product lines.
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