Strata said on Thursday it has signed a deal with Aciturri of Spain to explore how the two aerospace companies can cooperate globally.
Strata, the airplane parts maker that is the cornerstone of Mubadala Development’s aerospace portfolio, has been looking to expand its global footprint, particularly in North Africa, to be closer to Airbus Industries and other important European clients, as well as in North America, Strata chief executive Badr Al Olama said.
“There is no intention at all of creating a merger or acquisition of any kind,” said Mr Al Olama, who will become head of Mubadala’s aerospace division when it merges with International Petroleum Investment Company in May. He declined to comment on whether Mubadala intends to take a stake in Aciturri.
__________
Further development: Strata plans to open a plant in Al Ain to handle its overflowing pipeline
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“We share the same vision for the aerospace industry and are quite similar in the kinds of technologies and product focus we have,” Mr Al Olama said. “The intention is that we both have a shared opportunity here to actually become one of the top aero structures companies in the world,” which initially will entail looking at product, engineering capability, joint R&D and procurement projects.
amcauley@thenational.ae
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Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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