Al-Futtaim Group, a UAE-based diversified business group of 65 companies, has launched a wholly-owned subsidiary called Al-Futtaim Auto & Machinery Company (FAMCO) Oman as part of its regional expansion strategy.
In UAE, FAMCO provides products and services to a diverse range of industries and commercial undertakings covering transportation, construction, oil and gas, manufacturing, warehousing and marine sectors.
Speaking to Muscat Daily, FAMCO managing director Paul Floyd said the company, which has set up a facility in Ghubra, is also planning to set up two more branches in Sohar and Salalah in the near future.
He said, "The launch of operations in Oman is part of our wider regional expansion strategy. We recently made a big acquisition in Saudi Arabia and we are also setting up a subsidiary in Qatar, so we are becoming very much a regional player in the distribution of heavy equipments."
"We built a capability over many years in the UAE, and we believe we can replicate that in neighbouring countries as well."
Floyd said that FAMCO Oman will initially cater to the demands of construction, oil and gas, agriculture and logistics sectors.
"We see a lot of potential in the Oman market. Infrastructure development in the sultanate is very exciting. We have access to some of the best products in the world and we will bring them here to Oman. We will expand our product range in Oman as we see more opportunities," he said.
FAMCO is known throughout UAE for supply and service of heavy vehicles and machinery including trucks, buses, construction machinery, marine engines, air compressors, diesel generators and material handling equipment.
© Muscat Daily 2012
