Mubadala, an Abu Dhabi Government-owned investment firm, will officially launch Strata, an aerospace components manufacturing firm, in the coming week.

Mubadala chief operating officer Waleed Al Muhairi was quoted by Reuters as saying that they will be producing components of advanced materials, pieces for Airbus A380s, 340s and 330s.

The unit will produce components including flap track fairings, ailerons, spoilers and assemblies for Airbus aircraft and the empennage for ATR regional aircraft.

The new firm will eventually expand its scope to include engineering, design, research and development.

Initial contracts with partners total more than $2bn, according to Reuters.