Abu Dhabi Ship Building signs MoU with DeBirs Yachts

Abu Dhabi Ship Building, one of the leading shipbuilder and naval support services provider in the Gulf region, has signed a Memorandum of Understanding (MoU) with Egypt-based DeBirs Yachts, a world-leading manufacturer of timeless and innovative motor yachts, during the ongoing International Defence Exhibition and Conference (IDEX) 2011 in Abu Dhabi.

Under the terms of the MoU, Abu Dhabi Ship Building and DeBirs Yachts agreed to discuss and explore opportunities of collaboration in maintenance, repair and overhaul (MRO) services for super yachts, as well as commercial, naval and other vessels. This will include for example, setting up new state of the art facilities in the region and/or developing ADSB's existing facilities to establish a world class MRO facility for motor yachts.

Furthermore Abu Dhabi Ship Building and DeBirs Yachts will assess the feasibility and commercial viability of expanding the sales network of DeBirs Yachts in Abu Dhabi in order to increase DeBirs Yachts' market penetration in the region. The MoU also covers opportunities of collaboration in research and development.

Mohammed Al Junaibi, CEO, Abu Dhabi Ship Building, said: "The MoU creates exciting business opportunities for Abu Dhabi Ship Building and DeBirs Yachts as we leverage our respective core expertise to develop distinctive luxury yachts and boats that cater to a high-growth niche market in the Middle East. Abu Dhabi Ship Building already has a formidable portfolio in the commercial shipbuilding market and we believe that this partnership will enable us to provide an even wider range of choices and more value-added offerings to our clients."

Rady W. Fahmy, Senior Director & Board Member, DeBirs Yachts: "Abu Dhabi Ship Building has a record in being a leading shipbuilder in the Middle East and we are therefore pleased to establish a strategic partnership with them. With Abu Dhabi Ship Building's world-class facilities and expertise and wide-reaching presence in the regional market, we are confident that we will be able to build a strong and lasting brand image in the luxury yacht and boat segment."

Abu Dhabi Ship Building is a Public Joint Stock Company listed on the Abu Dhabi Securities Exchange. It is jointly owned by Mubadala Investment Company (40 per cent), the Abu Dhabi Government (10 per cent), and various national shareholders (50 per cent). Abu Dhabi Ship Building specializes in the construction, repair, and refit of Naval, Military and Commercial vessels. The company manages an impressive portfolio of build and refit projects.

DeBirs Yachts is a Dutch yard that was re-established in 1998 in the Amria Free Zone, Alexandria, Egypt by a group of U.S., European and Egyptian investors. DeBirs Yachts specializes in the construction and repair of 26-34 meters semi-custom luxury fibreglass motor yachts. DeBirs’ timeless yachts are developed to meet the specific criteria of clients who demand an exceptionally design while maximizing interior space, full separation between crew and owner and innovation at its best.

DeBirs Yachts
+20102840486
[email protected]
www.debirsyachts.com

Abu Dhabi Ship Building
+971 2 502 8000
www.adsb.net

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