Solvay and Strata Sign Final Agreement

Solvay, an international materials and chemicals company, and Strata, an advanced composite aerospace structures manufacturer, will build a high-technology facility in Al Ain to supply advanced composite materials to Boeing. As part of this, the parties have formalized a Joint Venture (JV). Following the signing of the JV agreement, the parties will also obtain antitrust approvals. This equal-ownership partnership will be the first supplier of pre-impregnated carbon fibers in the UAE and will also be referred to as "prepreg." This durable, advanced material is used to produce composite structures for aerospace applications, including Boeing's latest-generation 777X aircraft. The partnership marks Solvay's entry into advanced materials manufacturing in the United Arab Emirates and signals that Mubadala, through its wholly-owned Strata Manufacturing, will begin advanced materials production for the aerospace industry. Khalid Abdulla Al Qubaisi, Chief General Manager of Mubadala Aviation and Space Renewable Energy and IT, said "Over the past decade, Mubadala has helped develop Abu Dhabi's economic diversification vision and create an advanced and sustainable aerospace industry" and concluded his remarks by stating:

"This agreement with Solvay aligns perfectly with our growth strategy, as does our high-technology manufacturing capabilities. This agreement demonstrates our commitment to offering competitive products to the world's leading OEMs."

Solvay CEO Jean-Pierre Clamadieu said, "This joint venture showcases Solvay's capabilities in advanced aerospace composite technologies, including aircraft primary structures, which are key pillars of growth in our materials business." The new facility, spanning 8,500 square meters, will supply carbon fiber prepreg to Boeing for primary structural applications in the 777X program. Solvay's prepreg technology comprises fiber reinforcements impregnated with a resin matrix for manufacturing composite parts that deliver exceptional performance at lower weight compared to metal structures. Badr Al-Olama, Director of Strata Manufacturing and Aerospace, said: "This is another 'Made in UAE' success story for Strata and its shareholder Mubadala. We are proud to be an integral part of the global aerospace supply chain and to expand our advanced materials manufacturing focus through this exciting entry into partnership with Boeing." Carmelo Lo Faro, Head of Solvay's Global Business Unit for Composite Materials, said, "Solvay will bring its technical expertise in advanced composite materials to this partnership and, with its longstanding commercial relationship with Boeing, will turn this partnership into a success." The composite content in next-generation aircraft continues to grow as major commercial aircraft manufacturers aim to reduce weight and CO2 emissions while improving fuel efficiency.