ADSB signs MoU for superyacht work
Signing to MoU: back row (left to right): Tarek Ragheb, chairman De Birs, Homaid Al Shemmari, chairman, ADSB; front row (left to right): Mohamed Salem Al Junaibi, CEO, ADSB & Rady W. Fahmy, senior director and board member, DeBirs
Abu Dhabi Ship Building has signed a memorandum of understanding (MoU) with Egypt-based DeBirs Yachts, under which ADSB and DeBirs will explore various areas of collaboration.
Although the discussions and investigation into joint work will focus on maintenance, repair and overhaul (MRO) of superyachts, it will also cover commercial, naval and other vessels. This will include for example, setting up new facilities in the region and/or developing ADSB’s existing facilities to establish a world class MRO facility for motor yachts.
ADSB and DeBirs will further assess the feasibility and commercial viability of expanding the DeBirs sales network in Abu Dhabi in order to increase market penetration in the region. The MoU also covers opportunities of collaboration in research and development.
Mohammed Al Junaibi, CEO, ADSB, said: "The MoU may lead to exciting business opportunities for Abu Dhabi Ship Building and DeBirs Yachts as we may leverage our respective core expertise to develop value-added services and expand into the high-growth niche market for luxury yachts and boats. Abu Dhabi Ship Building already has a formidable portfolio in the commercial shipbuilding market and we believe that this MoU may enable us to provide an even wider range of choices and more value-added offerings to our clients."
Rady W. Fahmy, senior director and board member, DeBirs Yachts, said: "Abu Dhabi Ship Building has an impeccable track record as a leading shipbuilder in the Middle East and we are therefore pleased to jointly explore opportunities of collaboration. With Abu Dhabi Ship Building's world-class facilities and expertise and wide-reaching presence in the regional market, we are confident that we ultimately will be able to build a strong and lasting brand image in the luxury yacht and boat segment."
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