Tawazun, Airbus to Form Abu Dhabi Subsidiary

24.11.2021 Asia
Tawazun, Airbus to Form Abu Dhabi Subsidiary

Tawazun, Airbus to Form Abu Dhabi Subsidiary

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Tawazun Economic Council (Tawazun) and Airbus, a pioneer in the aerospace industry, have signed a Memorandum of Understanding (MoU) under which the latter will establish a wholly owned facility in Abu Dhabi.

The MoU comes as part of Tawazun’s endeavors to attract and promote long-term partnerships with leading defense & security, aviation and aerospace manufacturing companies.

The signing took place last week during the Dubai Air Show, in the presence of Tareq Abdulraheem al Hosani, Chief Executive Officer of Tawazun, Michael Schoellhorn, CEO Airbus Defence and Space, Bruno Even, CEO Airbus Helicopters, Matthieu Louvot EVP Programs Airbus Helicopters and Mikail Houari, President Airbus Africa & Middle East.

Matar Ali Al Romaithi, Chief Economic Development Officer of Tawazun, and Mikail Houari, President of Airbus Africa & Middle East, and Michel Carzan VP Airbus Helicopters Industrial Cooperation signed, the MoU at Tawazun’s stand in the Dubai Air Show.

According to the MoU, Tawazun and Airbus will explore potential cooperation opportunities in the areas of refueling solutions for Military Air Systems, Unmanned Aerial Systems, Helicopter Flight Lab and R&D for UAS/VSR-700, as well as other potential cooperation opportunities of mutual interest.

Following the signing, Tareq Al Hosani expressed his pleasure over the partnership with Airbus. “Part of Tawazun’s role is to invest in key social infrastructure and create globally integrated industry sectors for the benefit of the UAE through local and global partnerships. We are very happy that our partnership with Airbus will serve our shared interests and potentially help position the UAE as a hub within the sector,” he said.

Al Hosani said the partnership comes under the umbrella of the Tawazun Economic Program which develops and manages industrial partnerships for the benefit of the UAE’s sovereignty and wider economic impact and prosperity.

Mikail Houari added: “Tawazun is a long-term strategic partner for Airbus in the region and we have collaborated for many years on projects that drive innovation and help develop local skills and capabilities. This agreement is another important milestone in our partnership as we remain committed to advancing the UAE’s aerospace and space sectors by providing global expertise and technology to create sustainable industries for years to come.”

Matar Al Romaithi said the Council will continue working with strategic partners to promote the investment climate in the UAE and to contribute to furthering strategic investments in defense, security, aerospace and technology.

“The UAE has a robust competitive position as a destination of choice for strategic investments, including its strategic geographical location, modern infrastructure, social and economic stability and favorable legislation,” he added.

Tawazun was formed in 1992 and has supported the creation of more than 111 companies and investment vehicles in 12 sectors. It now serves as a catalyst for economic growth and the development of the UAE defence and security industry.

 
 



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