Abu Dhabi fund Mubadala's aerospace division unveiled a $1 billion contract to build carbon-composite structures for Boeing, boosting the United Arab Emirates' efforts to become a key manufacturer for the aerospace industry.
The 10 year deal calls for the Mubadala Aerospace to produce ribs, or strengthening components, for the tail section of the 777 mini-jumbo and the vertical part of the tail for the 787 Dreamliner, Boeing's latest passenger jet.
It also marks the first time, Boeing said, of a direct outsourcing deal for composites production in the Arab world. Airline manufacturers are using more and more lightweight composite materials in their aircraft to boost fuel efficiencies.
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