The Dubai-based major glass processor aims to conquer the North African market with the new foray
DUBAI (United Arab Emirates): Alumco LLC, the UAE-based specialized aluminium facade contractor and major glass processor, and Saudi Arabia-based Construction Products Holding Company (CPC) announced today the signing of an MOU to set up a new aluminium extrusion factory in Algeria.
The MOU was signed at the Alumco Headquarter in Dubai Investments Park, by Mr. Samer Barakat, Managing Director of Alumco LLC, and Mr. Mu'taz El Sawwaf, CEO of CPC represented by Mr. Ayman Nowailati, during an official ceremony attended by senior executives of the two companies.
The project will involve investment to the tune of AED 100 million and capital will be raised equally by both Alumco and CPC. The new factory, spread over 100,000 square metres, will have an initial production capacity of 50,000 tones per year, revealed Mr. Barakat, and work on the project is expected to start within six months from the signing of the MOU with completion due within nine months to one year.
Commenting on the development, Mr. Barakat elaborated: "This is a significant step for Alumco. We are moving in the right direction, and at the right pace, to seek more growth. We have consolidated our position in recent years and time has come for us to look beyond the UAE and the region, to conquer new frontiers. As soon as the new plant in Algeria becomes a reality, we will be a force to reckon with in the southern European market.
Mr. Barakat gave a peek into Alumco's future strategy when he said: "Fifty per cent of the production in the new factory will be earmarked for the Algerian market and the rest will be utilized to meet the burgeoning demand in the neighbouring countries and within Africa."
Mr. Nowailati expressed the hope that the partnership will be mutually beneficial and highly rewarding. "We, at CPC, are immensely proud to team up with Alumco. The Algerian venture is a totally exciting project. It has its own challenges and our logistics team is prepared to complete the project in record time, utilizing our supply chain, deep resources and unmatched expertise."
-Ends-
About Alumco:
ALUMCO LLC is a specialized Aluminium Facade contractor. The company's prime business is design, engineering, manufacture and installation of all types of façade systems, including the most advanced curtain-wall and cladding systems offered anywhere in the world. Its scope of work covers skylights, cladding, doors and windows, double-glazing, tempering, powder coating and steel fabrication.
Alumco enjoys a vast list of clients which includes major icons and brand names such as Nakheel, Dubai Properties and Emaar. The company also works under strict quality control and supervision by leading engineering consultants such as Atkins, Perkins & Will, and KEO. Alumco has completed prestigious projects in Dubai including 15 towers at Burj Dubai Residence located at the Burj Dubai development, the Dubai Police Headquarters, Al Murroj Complex on Sheikh Zayed Road, Shatha Tower in Dubai Media City and four towers at the JBR Sector 6 complex.
The company has also done major expansion to its present production capacity of aluminum. This is an integral aspect of Alumco's strategy to establish itself as one of the leading players in the manufacturing and installation of cladding and curtain walls on high-rise towers.
Alumco's vision is to offer the UAE and Gulf construction industries a full range of the most sophisticated and modern specialist aluminium architectural products.
With recent investments into the company, Alumco is aiming to be the No.1 aluminium and glass façade manufacturing company in the Gulf.
About Construction Products Holding Company (CPC)
Construction Products Holding Company (CPC) was established in 2005 based in Jeddah, Saudi Arabia, and has regional offices in Abu Dhabi, Damascus, Kuwait and Riyadh. CPC is a consortium of ten limited liability companies and has emerged as a one-stop-shop destination for construction solutions. The subsidiaries of CPC are dynamic, developed and reputable organizations committed to the highest quality and safety standards in the field of building materials and construction products.
CPC offers complete turnkey projects for private villas, impressive high-rise buildings, furnished compounds, prestigious shopping malls, and complete cities, maintaining the highest standard codes in the construction Industry. CPC is responsible for creating vast public infrastructures, and is committed and focused on delivering quality products, with price competitiveness on a timely fashion, with professional integrity and business constituting their core foundation.
CPC's mission is to make its products and services the preferred choice of customers throughout its target market comprising Saudi Arabia, Gulf and MENA regions.
For further media enquiries contact:
Yasser Fathy / Walid El-Tigi
Arabia PR FZ LLC
Tel: +9714 3911201;
Fax: +9714 3904511
info@arabiapr.com
P.O. Box: 500491,
Dubai,
UAE
Office 235, Building 10 (BBC World Building),
Dubai Media City
© Press Release 2008
