"Loan deal for the purchase of conduit and accessory manufacturing facility from Clipsal Middle East FZC"
Abu Dhabi, 03 April, 2013- Finance House PJSC (FH), has announced the signing of a loan deal for the purchase of conduit and accessory manufacturing facility of Clipsal Middle East FZC in SAIF Zone, Sharjah by Kingston Holdings FZC, one the regions leading manufacturers and distributor of lighting and electrical equipments. The facility has state of the art, modern and fully automated conduit and accessory manufacturing machines. It will enable Kingston to expand its operations by commencing the manufacture and distribution of PVC cable management systems to be a frontrunner in the region, by fulfilling the high demand of cable management systems in the UAE and Middle East. Commenting on the new cooperation, Jayasankar P. Menon, Head of Corporate and Commercial Finance for Dubai and Northern Emirates at Finance House, said: "Since inception Finance House has been focusing on creating innovative product propositions that offer great value and outstanding features to our corporate clients, enhancing our investment philosophy by partnering with companies that have great potential, and aiming at the same time for building long-term relations with our clients". "Our cooperation with Kingston will bring added value to our business portfolio, and further diversify the business sectors that we are involved in. We are sure that this expansion, will serve them being a major player in the market. Kingston is considered as a leading company in its industry and we are confident that this cooperation will be remarkable in both local and regional markets", concluded Jayasankar P. Menon.
Lalu Samuel, Managing Director of Kingston said: "The proposed alliance with Finance House will help Kingston to expand and establish its operations in PVC cable management and deliver high quality goods in the UAE and regional markets. This association will also support us in our future expansion plans in the UAE".
Earlier last year, Finance House has been awarded at the Banker Middle East Industry Awards 2012 as Best Business Finance Company in the Middle East, and retained the Best Retail Finance Company in the Middle East for the second consecutive year, and through its branches in Abu Dhabi, Dubai and Sharjah, FH offers to its customers a wide range of Business products that include Commercial finance, Corporate finance, labour guarantees, and payroll distribution solutions.
-Ends-
About Finance House
Finance House PJSC is an Abu Dhabi-headquartered finance company that was established on 13 March 2004 and commenced its operations on 18 July 2004.
The principal activities of the Company are commercial and retail financing, financial services and investments. The Company is licensed and regulated by the Central Bank of the UAE.
The major shareholders of Finance House include, The National Investor (TNI), a number of prominent UAE businessmen, high net worth individuals and dignitaries.
In a short span since inception, Finance House has introduced a number of innovative products and services for the consumer and commercial segments.
Finance House is listed on the Abu Dhabi Exchange under the ticker symbol FH and is categorized as a "Grade One" company by the Emirates Securities & Commodities Authority (SCA).
For further information, kindly contact:
Wissam Farran- Manager
Group Corporate Communications
Finance House PJSC
Tel: +971 2 6194893
Fax: +971 2 6315806
Email: wissam.f@fh.ae
www.fh.ae
About Kingston Holdings
Kingston Holdings is part of the Kingston Holdings Group of Companies, established in the year 1996 and headquartered in Sharjah, UAE. The Group's business comprises manufacturing and distribution of electrical equipment and fittings, Logistics, System Integration, Headhunting, Smart Home Solutions, Advertising & Media Promotions and Project Development.
The Kingston Group has Joint Venture partnerships and tie-ups with the worlds leading names in the industry. The Group distributes a range of products through its Retail & Distribution network spread across UAE, including Switches & Sockets, Switchgear, Cables, Batteries, Control Systems, Networking, Air Movement, Heating & Ventilation, Commercial, Industrial, Explosion Proof and Special Application Lighting, Video Door Phones, Home Theatres, Access Control & Security Systems and Smart Home Solutions from the following brands: Pierlite, Schneider, Clipsal, Rexton, GP Batteries, Moonlighting, Austube etc.
© Press Release 2013
