Fischer has produced aircraft components for such Western majors as
Airbus and Boeing. Officials said the joint venture could allow Mubadala to
purchase a stake in Fischer.
"We want to produce aircraft parts in the UAE to reduce the impact on
our exports of the strong euro," Fischer chairman Florian Keiper-Knorr said
on April 25.
In 2007, Mubadala signed agreements with Boeing and Lockheed Martin to
establish an aerospace and defense industry in the UAE emirate of Abu Dhabi.
Earlier, Dubai launched a separate aerospace sector.