DWC - STTS deal.
DUBAI World Central (DWC), the world's first purpose-built aerotropolis, has announced the signing of a strategic agreement with STTS Group, a major player in aircraft painting.
The signing ceremony was held in the presence of Khalifa Al Zaffin, executive chairman, Dubai Aviation City Corporation, and Rashed Bu Qara'a, the corporation's chief operating officer, Christophe Cador, CEO and president, Finaero (holding company of STTS Group), and French diplomatic representatives.
Under the agreement, the STTS Group, headquartered in Blagnac, France, will invest in a $40 million multi-purpose facility that will cater to narrow-body airlines, VIP aircraft and business jets. The business case could develop into a capacity to service wide-body aircraft, including the Airbus A380.
Speaking at the signing ceremony, Bu Qara'a said: "With this new partnership, DWC has come closer to its ambition of becoming the only hub outside of North America and Europe to offer a complete ecosystem to the aviation and aerospace industry. We are setting the stage to enable our partners to connect better with a flourishing regional market and, by extension, to the global market."
Scheduled for completion in Q1 of 2017, it will be the Middle East's first, independent aircraft facility to utilise state-of-the-art OEM-approved painting technology. It will be built to handle 25 wide-body aircraft and 35 narrow-body aircraft on an annual basis.
In his comments, Cador said: "It is a great and challenging opportunity for STTS Group to be able to serve the Middle East market from Dubai World Central. Founded on a five-year relationship built with Emirates Engineering, the vibrant hospitality provided by DWC and the huge expansion of the fleet servicing the Middle East, we have decided to invest in an environment-friendly and state-of-the-art operational setting. In line with our other operations, quality and OTD (on time delivery) will remain our main focus."
STTS Group employs 1,600 people in nine countries across Europe, China and Morocco. In 2013, it painted 360 aircraft, sized from Citation/Learjet up to Airbus A380.
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