DOHA - Qatar-based Satco International Trading and Contracting Company has entered into a joint venture with the UAE's Henkel Polybit Industries Limited (HPIL) to market the full range of its well-known waterproofing and heat insulation products locally.
The joint venture company is named H Polybit Trading Limited and headquartered in Doha. Formed 22 years ago, Satco's forte areas include building materials supply, air-conditioning and water and drainage system maintenance.
Satco said at the launch of the joint venture here yesterday that it has lately emerged as a key player in roofing works with its waterproofing and insulation division being a fast growing segment of its overall business.
"We are HPIL's sole agents and distributors in Qatar," Mohamed Sabih Bukhari, Satco's Group General Manager, told reporters.
HPIL was set up 10 years ago in Umm Al Quwain, UAE, as a joint venture with Germany's Henkel Polybit. "It's number one company in the world for waterproofing and insulation materials," Bukhari said of HPIL.
He said there is a possibility that in future the joint venture firm could begin production locally. However, as of now, there are no concrete plans, clarified Bukhari.
Growing demand for quality waterproofing and insulation products and services in the booming Qatari market has prompted Satco to partner with HPIL, he explained. The company has supply contracts in place with a number of local mega projects, added Bukhari.
Present at the launch function were Mohamed Salem Al Melehy, Chairman of HPIL, Naveen Antony, General Manager, Sales and Marketing, Jay Paul, Director of Sales and Marketing. Mustafa Hassan, General Manager of Satco's trading division, Saif Al Khayareen, Vice-Chairman of Satco and Saeed Al Khayareen, Chairman, also attended.
Responding to questions, Al Melehy said that thanks to the German partner, his company is backed by latest technology from Europe in the areas of its specialization. The company has a research and development (R&D) wing, simulators and laboratories to test new products, he said.
He said that due to the construction boom in the entire region the UAE manufacturing facility was fully concentrating on meeting demand in the GCC and a production unit in Egypt was taking care of supplies in North Africa.
© The Peninsula 2006
