ABU DHABI, 20 June 2007 — Abu Dhabi-owned Mubadala Development Company and US industrial giant Lockheed Martin signed a Memorandum of Understanding (MOU) yesterday to collaborate on a range of aerospace activities and projects in Abu Dhabi and across the MENA region.
Mubadala said in a statement the MOU was signed at the Paris Air Show by Waleed Al-Mokarrab Al-Muhairi, COO of Mubadala, and Ralph D. Heath, executive vice president for aeronautics, Lockheed Martin Corporation. It is the second agreement signed by Mubadala with blue chip strategic partners at Le Bourget this week as the company moves to firmly establish Abu Dhabi in the international aerospace arena.
“This MOU signifies our mutual interest to explore ways in which we may both collaborate and address sustainment, maintenance, repair and overhaul, engineering and technical support of military aircraft,” Al-Muhairi said. “We see an opportunity in creating sustainment programs across several platforms, such as the F16 Block 60 Desert Falcon, C-130 Hercules, Mirage 2000, Hawk and PC7. Jointly, we would like to develop and align our activities to attract other strategic partners to provide best value full-service, end-to-end, military aircraft support.”
Together, Mubadala and Lockheed Martin have identified various military aircraft airframes and engines as part of the scope of a joint MRO business agreement. “These structures include, but are not limited to, tactical fighters, cargo and/or transport aircraft,” Heath said. “The agreement is open to working in partnership with other UAE entities and global aerospace organizations. It is a highly strategic move to position ourselves with our affiliates in the region.”
In the agreement, Lockheed Martin will also study participating with Mubadala in its other aerospace development activities with particular attention to research and development.
“This agreement further underscores Mubadala’s desire to select partners of global standing to achieve economic diversification mandate of the Abu Dhabi government,” Al-Muhairi added.