MT Aerospace AG and Abu Dhabi Airports Company sign Memorandum of Understanding (MoU) for cooperation in the aeronautics sector

The Middle East is one of the fastest growing markets for air traffic in the world, which manifests itself in the continued efforts of the United Arabic Emirates to establish a local aerospace industry structure through business and technological cooperation agreements.

A strong interest in mutual cooperation between the Bavarian cluster for aeronautics and the aerospace cluster Abu Dhabi had already been expressed during an entrepreneurial trip undertaken in conjunction with the Bavarian ministry of economics in the spring of 2009. For the build up of an aeronautical industry, the United Arabic Emirates rely on the know-how and competence of the Augsburg based company MT Aerospace AG.

In this context, MT Aerospace AG directors Hans J. Steininger and Walter H. Köppel, and Abu Dhabi Airports Company (ADAC) representatives signed a cooperation agreement on June 15th, 2009, the opening day of the International Paris Air Show at Le Bourget. This memorandum of understanding (MoU) sets out specific goals for the future cooperation of the two partners. First and foremost, the document focuses on the development of manufacturing locations for the aeronautical industry in Abu Dhabi.

The MoU provides MT Aerospace AG, as an established supplier for the aeronautical industry, with the opportunity to participate in the Emirates' ambitious plans for the future. However, both sides benefit equally from the proposed cooperation: the Emirates will be able to rely on MT Aerospace AG's extensive know-how and experience in aeronautics sector while the Augsburg based medium-sized company will benefit from the economic potential of the region.

H. J. Steininger, CEO of MT Aerospace AG, welcomes the activities of Abu Dhabi Airports Company: "The growing interest shown by Arabic countries in intensifying economic relations with Bavarian companies emphasises once again the superior competence of our Bavarian aerospace cluster."