According to NNR, Amaero International has signed a binding joint venture (JV) agreement with Rabdan Industries for additive manufacturing and metal powder production in Abu Dhabi, UAE.
Rabdan is an affiliate of the diversified holding company Ethmar Holdings. The JV agreement outlines that Amaero and Rabdan will partner exclusively on additive manufacturing and metal powder production in the Middle East. In addition to this, the JV includes an ambitious strategy to develop projects in order to vertically integrate the titanium supply chain – including titanium sponge, melt, mill, and forge operations.
The JV company, FALCON Advanced Metals, will be a 50/50 partnership between the two companies and will operate as a holding company that controls and owns, directly and indirectly, subsidiaries that will undertake projects. The partners will contribute working capital on a pro-rata basis.
Amaero will contribute goodwill, reputation, and expertise, and a licensing agreement is expected to be signed between FALCON and Amaero for IP and know-how in respect.
Manufacturing on Demand
Rabdan will contribute local knowledge and relationships and has also committed to directly providing funding for capital expenditure at the project level and/or to indirectly secure funding from Abu Dhabi-based strategic groups on a non-participating, non-equity basis. The specific terms for each project will be outlined in separate SPV agreements.
The project under consideration by the JV company has a capital budget of A$300 million, and includes an Applied Engineering, Design and Commercialisation Centre; large format 3D printing; and large scale metal powder production that would include seven gas atomisers – four dedicated to titanium and three atomisers for aluminium, copper, and superalloys.
Amaero expects to provide an update on the project, as well as capital commitments, in Q3 FY2023. FALCON has presented an integrated additive manufacturing and metal powder production project to the Tawazun Economic Council, as well as Tawazun Special Projects group. After numerous meetings, FALCON has received indications of strong support. Discussions continue to advance.
“After spending three months in the UAE and countless hours with our partners, I couldn’t be more excited about embarking on the next chapter of Amaero’s growth and development with Rabdan Industries. Our partner brings deep knowledge and relationships in the UAE, as well as in the Kingdom of Saudi Arabia. Moreover, FALCON Advanced Metals’ capabilities and growth strategy closely align with the UAE’s priority economic and industrialisation initiatives,” said Hank Holland, Chairman and CEO of Amaero.
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Author: Edward Wakefield
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