Abu Dhabi: The revenues of Strata, the Al-Ain based composite aerospace manufacturing company, fully owned by Mubadala group will cross Dh400 million this year, the company’s chief executive officer said on Tuesday.
The company made revenue of Dh346 million last year.
“We are expecting to break even in 2017,” he told reporters on the sidelines of the launch of Global Manufacturing and Industrialisation Summit in Al Ain.
Strata Manufacturing was established in 2010.
The company has commitments of over $7.5 billion to produce aircraft parts for both Boeing and Airbus. It is targeting total revenue of Dh1 billion by 2020.
Badr expected increased cooperation between India and the UAE following the visit of Indian Prime Minister Narendra Modi.
“We import a lot of raw material that comes from the West and we want to look to the East. The Prime Minister’s visit came at a very good time. The collaboration between the two countries is promising and is going to happen across all sectors whether it is defence or aerospace.”
Strata manufacture eight different aircraft parts and 50 per cent of their total suppliers are from the local market.
