Posted on 08/06/2007 3:14:37 PM PDT by BGHater
The United Arab Emirates has completed the acquisition of two aviation subsidiaries of a major U.S. firm.
The acquisition would provide the UAE with advanced Western aviation technology and services as part of its plan to establish a global aviation network.
The state-owned Dubai Aerospace Enterprise has formally completed its acquisition of Standard Aero and Landmark Aviation from the U.S.-based Carlyle Group. Executives said DAE, which concluded the $1.9 billion deal on Aug. 1, would absorb the two former Carlyle subsidiaries within its DAE Engineering subsidiary.
Executives said Standard Aero and Landmark Aviation would form a global aviation services network of 12 primary facilities in the United States, Canada, Europe, Singapore and Australia — with another 14 service and support locations in the Gulf.
That subsidiary will establish headquarters in the United States over the next year, Middle East Newsline reported.
"The closing of this acquisition is an important step forward in the business and investment relationships between Dubai, the United Arab Emirates and the United States," DAE chairman Ahmed Bin Saeed Al Maktoum said. "DAE is making significant strides in the aerospace sector, and we appreciate all that went into making this transaction a success."
The acquisition would provide the UAE with advanced Western aviation technology and services, executives said. DAE marked a $15 billion program by the UAE emirate of Dubai to develop an aerospace industry.
"This is a significant step forward in our strategy which reinforces the progress that DAE has achieved so far, and for sure it will not be the last one," DEA managing director Omar Bin Sulaiman said.
Standard Aero provides gas turbine engine and engineering services, while Landmark Aviation offers nose-to-tail services that include engine, airframe and avionics.
"DAE is quickly establishing itself as a significant player in the global aerospace industry," DAE chief executive officer Bob Johnson said. "The acquisition of Standard Aero and Landmark Aviation provides a critical platform for DAE to take advantage of growth opportunities in the MRO business around the world."
DU is going to go nuts over this one.
Why do I feel my stomach convulsing?
Matter of factly I think a lot of FReepers won’t be happy over this as well. Rightly so.
They do maintenance, it’s not like the UAE just bought Lockheed Martin.
....maybe we can have them manage our Air force or thomthing....kinda like the “ports” deal...(Beavis and Butthead voice). Yeaaaaaaa....hehehe-hehehehehe-hehehhe
cooooooool.
True. But for quite different reasons.
What’s to prevent them from sending people with the expertise to know how to design and build.
“They do maintenance, it’s not like the UAE just bought Lockheed Martin.”
Did you or did you not just post the above? If so, aren’t you saying that these people just do mainenance. Does this statement mean that these people do not design or build; therefore, we should not worry?
The article says:
“Standard Aero provides gas turbine engine and engineering services, while Landmark Aviation offers nose-to-tail services that include engine, airframe and avionics.”
I don’t know anything more specific about the companies in question, but that sounds like pretty routine civilian maintenance stuff to me. I don’t get the impression they could provide information about classified US military systems or anything.
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