governmental investment vehicle Mubadala
has detailed ambitious plans to rename and revamp Gulf Aircraft Maintenance (Gamco) after acquiring the entire
share capital of the company.
Mubadala is renaming the company as Abu Dhabi Aircraft
Technologies and intends to increase its turnover from $300 million to $800
million by 2012.
It plans to invest over $500 million in the next five
years, mainly in facilities, to help establish the firm as a strong aircraft
maintenance operation and a “top-tier total-care provider”.
facilities will include a heavy maintenance hangar to handle three Boeing
A second similarly-sized hangar will give the company a total of 13 maintenance
bays. The company also plans a two-bay light maintenance station, at Abu Dhabi
midfield terminal, and a paint hangar.
Gamco was a joint venture
60%-owned by the Abu Dhabi Government while Gulf Air held the remainder. But Mubadala says it now owns 100% of
Abu Dhabi Aircraft Technologies.
Mubadala chief operating officer Waleed Al Mokarrab says Abu Dhabi Aircraft Technologies will
“expand the existing business” and “convert the company into a total-care
adds: “This will be achieved by increasing capabilities, enhancing the pool of
expertise and entering new markets through partnerships, joint ventures and
will focus on commercial and military airframes as well as engines and
components, and expects to attract customers from the Middle East, India
Dhabi Aircraft Technologies will be headed by John Byers, who says: “Growth is
being driven by rapid United Arab Emirates
and Middle East
will achieve our aim by developing several key cornerstone clients, developing
value-added, knowledge-based services and expanding engine and component
Mubadala is one of the
participants in the Arab consortium which took over maintenance company SR Technics last year.