BERWYN,
Pa., May 24, 2022 /PRNewswire/ -- Sanad, the
global aerospace engineering and leasing solutions leader
wholly-owned by Abu Dhabi's
Mubadala Investment Company PJSC (Mubadala), and Triumph Group,
Inc. (TRIUMPH) [NYSE: TGI], a
US-based aerospace manufacturer and MRO provider, with significant
engine component repair experience, today announced the signing of
a memorandum of understanding (MoU) outlining their plans to
collaborate on the provision of next-generation engine Maintenance,
Repair and Overhaul (MRO) capabilities in the United Arab Emirates (UAE).
Through this strategic relationship, Sanad and TRIUMPH intend to collaborate to provide
critical MRO solutions for multiple engine types for aerospace and
aviation industry operators across the Middle East and Africa (MEA) region.
The partnership would advance Sanad's service offerings beyond
engine overhauls while simultaneously providing TRIUMPH with an immediate footprint in the
Middle East & Africa and jointly establishing a dedicated
"Center of Excellence" in Abu
Dhabi, where Sanad and TRIUMPH can offer their unique MRO
capabilities for next generation engines to global customers. The
parties also intend to jointly provide MRO solutions for V2500, CFM
and GE90 engine accessory repairs and overhauls.
"The discussions around this partnership with Sanad have
progressed very quickly and confirmed the need for establishing the
only comprehensive engine components MRO in the Middle East region," said Jim Berberet, President of TRIUMPH Product Support. "Aside from offering
a mature business environment and strategic geographical proximity
at the intersection of Europe,
Asia and Africa, Abu
Dhabi is very active and well-known as a global aerospace
hub. Sanad, a well-established leader in global MRO services, also
boasts significant in-market skillsets to support the strategic
relationship. We are very excited to better serve one of the
fastest growing markets in the world and offer reliable solutions
on legacy and new generation engines together with Sanad."
Mansoor Janahi, Group CEO of Sanad, added: "As part of our
ongoing expansion efforts across the Middle East and emerging African markets, our
strategic alliance with TRIUMPH
will amplify Sanad's ability to offer best-in-class MRO solutions
to major industry players across two continents – and beyond. We
look forward to collaborating with TRIUMPH, sharing best practices, offering new
service solutions to our customers, and further elevating
Abu Dhabi's standing as a globally
recognized capital of MRO excellence."
About Sanad:
A wholly owned subsidiary of Mubadala
Investment Company and a global aerospace engineering and leasing
solutions leader, Sanad builds on more than three decades of
industrial experience. With its name derived from the Arabic word
for support, Sanad supports its customers where and when it matters
most. Through engineering and leasing excellence, Sanad is
underpinned by industry-leading reliability, innovation, and
technology. As a leading integrated industrial service provider,
Sanad is well positioned to maintain aircraft engines to the
highest standards using the latest Fourth Industrial Revolution
technologies and provide lease finance solutions that create value
and flexibility for its customers and partners. Headquartered in
Abu Dhabi with offices
in Abu Dhabi and Zurich, Sanad has a global customer base
working closely with major OEMs and industry leading airlines.
For more information, please visit www.sanad.ae
About TRIUMPH:
TRIUMPH, headquartered in Berwyn, Pennsylvania, designs, engineers,
manufactures, repairs, and overhauls a broad portfolio of aerospace
and defense systems and components. With locations across the
globe, TRIUMPH serves the global
aviation industry, including original equipment manufacturers and
the full spectrum of military and commercial aircraft
operators.
More information about TRIUMPH
can be found on the company's website at www.triumphgroup.com.
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SOURCE Triumph Group