Jeddah, Saudi Arabia - April 28, 2014: Anchor Allied Factory Limited ("ASMACO" Group), one of the largest producers and suppliers of adhesives and sealants in the Middle East, announced today that it has won the prestigious annual Sharjah Economic Excellence Award ("SEEA") for Large Companies in the Bronze category. ASMACO Group is jointly owned by Alkhabeer Industrial Private Equity Fund 1 and the Nalwala family, the UAE based founders of the Group. Alkhabeer Industrial Private Equity Fund 1 is managed by Alkhabeer Capital, a Jeddah based asset management and investment banking firm licensed by the Saudi Capital Market Authority.

The recent event, which took place at the Sharjah Chamber of Commerce & Industry, was held under the patronage of His Highness Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of Sharjah, who presented the award to Anchor Allied.

Anchor Allied won the SEEA Award following a rigorous review process by top assessors which included global benchmarking, interviews with senior executives and on-site visits to shortlisted companies. Nominations are based on the "EFQM Excellence Model" which is an assessment framework used by more than 30,000 organizations in Europe to determine performance levels and where companies need to focus their efforts to improve. .

Accepting the award, Ahmedali Nalwala, Managing Director Anchor Allied, said: "It is an honour to receive the SEEA award. This is an important recognition of our efforts over the past few years to build, implement and sustain an excellent organizational culture, workplace and management structure. I would like to thank my colleagues whose hard work was central to Anchor Allied being recognized for its significant achievements to date. Finally, I would also like to thank our shareholders whose expertise and knowledge transfer continues to support our business to be more innovative and competitive as we continue our growth momentum."

Ammar Shata, Executive Director and Chief Executive Officer at Alkhabeer and the Chairman of the ASMACO Group, said: "We take this opportunity to congratulate Anchor Allied and its management team on their efforts and commitment to business excellence; which have been clearly recognized with this award. We look forward to working with the team and supporting their continued growth and success across the region."

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About Anchor Allied
Founded in 1993, UAE based Anchor Allied Factory Limited manufactures adhesive tapes, silicone and sealants; and has become one of the largest producers and suppliers in the Middle East. The Company has a fully integrated silicone and acrylics process-flow and is among the few regional manufacturers of adhesives that have specific ISO certifications of their products.

Anchor Allied Factory Limited
Street17, Industrial Area no. 15,
PO Box 21152, Sharjah, UAE
Tel: 00971 6 5342091
Fax: 00971 6 5342107
Website: www.anchorallied.com

© Press Release 2014