Abu Dhabi-UAE: 12 February, 2014 – Instilling pride by educating employees on quality, changing traditional mindsets and gaining the confidence of customers with world-class products are some of the measures that have brought immense benefits, said Badr Al-Olama, Chief Executive, Strata Manufacturing, an advanced composite aerostructures manufacturing facility , fully owned by Mubadala Development Company.
Al-Olama was speaking at a seminar titled ‘Diversification…it’s not only GDP’, organized by Masdar Institute of Science and Technology as part of the Lecture Series Program. He was later presented with a memento by Hamza Kazim, Vice-President for Operations and Finance, Masdar Institute of Science and Technology, and Dr Mohamed Sassi, Interim Dean of Faculty. A large number of faculty and staff members as well as students attended the event that was held at Masdar Institute auditorium. Later on, Al-Olama was taken on a tour and was briefed on the various sustainable features of the campus.
Within a short span since it began operations, Strata has tripled the value of its contracts to US$7.5 billion in 2013. With its 21,600-square meter facility in Al Ain, Strata has earned revenues exceeding AED220 million in 2013 with investments of around US$320 million. Currently, the company manufactures A330/340 Flap Track Fairings, A330/340 Aileron Panels with assemblies, A330/340 Spoilers, A380 Flap Track Fairings, B777 Ribs, B787 Ribs and the ATR Vertical Fin.
Al-Olama said: “We make these components under stringent guidelines and supervision from specific aircraft manufacturers. Strata is also one of the very few companies worldwide to have built such a facility, started manufacturing customized products and managed to obtain approvals within the first year of operation. We consider this as one of our major achievements and we believe we have the capability to further build on our success with our employees’ commitment and with support from Mubadala.”
“Strata implements various incentives to retain and additionally train staff,” Al-Olama said, “such measures are necessary to continue the operational success of the company. At present, the company has more than 650 employees from over 30 nationalities with 40% UAE national staff, among whom 85% are women”, he added. The UAE is the third largest market for new aircraft and is the base for airlines such as Emirates, Etihad, FlyDubai and Airarabia.
Commending the leadership for their visionary plans to diversify UAE’s economy away from oil and gas, Al-Olama said these efforts are in the right direction and will prove beneficial to the future generation.
Praising Masdar Institute for its advanced research in composite materials, Al-Olama urged faculty and students to continue with their search for innovative solutions in composite materials that will help not only companies that manufacture aerospace components, but other sectors as well. He also pointed out the need for trained aerospace and mechanical engineers who can contribute to Strata’s future success. Currently, Masdar Institute offers eight Master’s programs in various engineering fields.
An independent, research-driven graduate-level university focused on advanced energy and sustainable technologies, Masdar Institute currently leads in innovation with one issued patent and more than 25 patent applications pending. Serving as a key pillar of innovation and human capital, it also remains fundamental to Masdar’s core objectives of developing Abu Dhabi’s knowledge economy and finding solutions to humanity’s toughest challenges such as climate change.
Established as an on-going collaboration with the Massachusetts Institute of Technology (MIT), Masdar Institute integrates theory and practice to incubate a culture of innovation and entrepreneurship, working to develop the critical thinkers and leaders of tomorrow. With its world-class faculty and top-tier students, the Institute is committed to finding solutions to the challenges of clean energy and climate change through education and research.