Dubai, 2 Oct. 05 (WAM) - Arab Technical Construction Company PJSC (ATCC)and Arabtec Construction have completed procedures related to acquiringthe entire shares of the Jebel-Ali based Austrian Arabian ReadyMix Concrete LLC.

Riad Kamal, Managing Director, ATCC said: "We are committed to eachand every old signed contract with suppliers and company clients, besidesemployee contracts. We will maintain the same company functions, licensingand the trade name of the company." "The financial liquidity necessary for purchasing the company is availablewith Arab Technical Construction Company and it will supply Arabtec Constructionwith around 1/3 of its annual requirements of ready mix concrete, whichwill support them in executing the construction contracts with higherefficiency", remarked Kamal.

"We are looking forward to providing the best choices and decisionsthat will serve our interests and provide our organization with a unique,leading position that will contribute to increasing income and the varietyof sources simultaneously. There is no doubt that the acquisition of AustrianReady Mix Concrete Company complements the nature of activities, whichArabtec Construction Company is undertaking and therefore it supportsour competitive, leading position in the regional construction sector",he added.

The daily production capacity of the factory is around 3,000 cubicmeter of ready concrete and the factory has the capability of doublingthis production to reach 1,500,000 cubic meters on a yearly basis.