Austria's Fischer Advanced Composite Company (FACC), a producer of aircraft and aeronautic parts for customers like Boeing and Airbus, is planning to establish a joint venture with Abu Dhabi's Mubadala Development Company, Gulf News reported.
According to an Austria Press Agency report, negotiations are close to being finished.
Florian Keiper-Knorr, chairman of the board of FACC, confirmed the talks when contacted by Gulf News on Thursday.
"We want to produce aircraft parts in the UAE to reduce the impact on our exports of the strong euro," he said.
According to FACCsources, Mubadala may also acquire a stake in FACC.
Mubadala is an investment and development arm of the government of Abu Dhabi and has a diversified portfolio, which includes the energy, manufacturing, telecommunications, infrastructure and aerospace sectors in several countries.