Mubadala Aerospace merges aero maintenance and capital businesses
Sanad Aerotech, Sanad Powertech and Sanad Capital combine to create 'new industrial champion'
Mubadala Investment Company, Abu Dhabi’s strategic investment arm, has merged three of its aerospace and industrial companies with a view to creating “a new industrial champion”.
Mubadala Aerospace said Sanad Aerotech, an aircraft engine MRO (maintenance, repair and operations) business, will be merged with industrial and energy MRO Sanad Powertech and with aero leasing and asset finance business Sanad Capital. The new entity will simply be known as Sanad, derived from the Arabic word for “support”.
“Sanad will spearhead Mubadala’s strategic investments in key technologies and capabilities to enhance and strengthen its global positioning. As a trusted partner providing holistic services in aviation and industrial MRO, engine financing and leasing, Sanad will play a key role in promoting Abu Dhabi as a global aerospace hub,” said Badr Al Olama, head of Mubadala Aerospace.
Sanad will sit within a portfolio of businesses within Mubadala Aerospace, which includes aircraft parts maker Strata Manufacturing, satellite communications company Al Yah Satellite Communications (Yahsat) and the company’s investments in Virgin Galactic and Virgin Orbit. Aerospace is one of the key sectors within Mubadala’s $229 billion (Dh841.16bn) portfolio, which also includes investments in renewable energy, oil and gas, petrochemicals, health care, pharmaceuticals, real estate, semiconductors and a range of other industries including financial holdings across all asset classes.
“We will invest, employ and deploy Fourth Industrial Revolution technologies to transform our global offering to customers,” Mr Al Olama said about the creation of Sanad. “Consolidating our businesses is pivotal to our vision, as we look to unlock synergies across the entire aviation value-chain.”
According to its website, Sanad is looking to increase its deliveries of aircraft to 40,000 by 2040, up from the 26,000 expected next year.
Updated: November 20, 2019 05:20 PM