Mubadala Development-owned Strata Manufacturing, a maker of composite aero-structures, said it is gearing up for higher growth with automation and robots, having recorded a 20 per cent growth in deliveries last year.
Strata delivered 521 shipsets, consisting of more than 9,103 components, which included parts for the Airbus A330neo and A350-1000.
“In six years only, Strata has proven to the world that it is capable of contributing to Abu Dhabi vision 2030 through diversifying the economy away from oil and gas and positioning Abu Dhabi and Al Ain as a global aerospace hub,” said Ismail Ali Abdulla, the deputy chief executive of Strata.
The company, which began production in 2010, said it expects to break even next year and expects to record annual revenue of Dh1bn by 2020.
Strata launched its Strata Lab at Masdar Institute last year to focus on manufacturing and materials research in aerospace production lines.
There are five research and development projects under way, it said.
The Aerospace Research and Innovation Center, a partnership between Khalifa University and Strata, has acquired a robotic arm to develop aircraft components. The robot is installed at Khalifa University’s Abu Dhabi Campus.
At the Farnborough Airshow last July, the Al Ain-based company won orders worth US$1 billion from European aircraft manufacturer Airbus to make inboard flaps for the A350-900 and horizontal tail plane for the A320 besides a multi-year contract to manufacture the vertical fin for the Boeing 787.
Strata is making a conscious effort to employ more nationals in its workforce, with Emiratis comprising 51 per cent of its staff. The feat came during a year that witnessed graduation of 105 UAE nationals from its Aero-structures Technician Training Programme, a collaboration with UAE University in Al Ain. Strata also has 48 women as team leaders, while four out of its 11 supervisors are Emirati women.
About 56 per cent of its nearly 480 suppliers are based in the UAE, with 88 per cent of the local suppliers comprising small and medium enterprises.
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Company%20Profile
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
COMPANY%20PROFILE
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
COMPANY%20PROFILE
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20profile
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How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
