Mubadala, Honeywell sign MoU

Mubadala Investment Company, Mubadala, has signed a Memorandum of Understanding with Honeywell International to introduce a suite of products and services to the Middle East, relating to the manufacturing, development and maintenance, repair and overhaul of aerospace products across the region.

The MoU was signed by Badr Al-Olama, Director of Aerospace at Mubadala, and Randy Anderson, President, Aerospace, Europe, Middle East, Africa and India at Honeywell, on the sidelines of the Dubai Airshow 2017, in the presence of senior management from both entities.

Mubadala and Honeywell intend to establish Middle East capability for three major Auxiliary Power Units, APUs, including spares pool management, predictive maintenance and associated connectivity. In addition, the alliance intends to explore facilitating aircraft engine and component leasing, as well as next generation air traffic management solutions, and the manufacturing of advanced materials in the region.

Commenting on signing the MoU, Al-Olama said, "As Mubadala continues to invest in an agile and advanced ecosystem of aerospace products and services, our relationship with Honeywell, a Fortune 100 company, gives us access to a leading suite of high-tech offerings that will help differentiate our next phase of growth. Bringing these regional firsts to the heart of Abu Dhabi’s thriving aerospace hub, alongside a world-class company such as Honeywell, aligns with our commitment to leading-edge, competitive aerospace offerings."

Norm Gilsdorf, President, Honeywell, High Growth Regions, Middle East, Russia, Turkey and Central Asia, commented, "As a global software-industrial company, Honeywell has supplied the aerospace industry with leading technologies and services for over 100 years. We are proud to work with Mubadala to build local capability through advanced manufacturing and MRO services. This alliance represents an important step forward for the regional industry. Together, we can deliver solutions that build a safer, smarter, more sustainable, and more connected world."