Production capacity to increase to 12,000 tonnes per month
Dubai, UAE; May 15, 2007: Emaar Industries & Investments (EII), a subsidiary of Emaar Properties PJSC, has acquired a majority stake in Mammut Building Systems FZE (MBS), one of the region's largest manufacturers of pre-engineered steel buildings (PEBs) and polyurethane injected sandwich panels. This partnership is in line with EII's ongoing strategy to expand into new growth areas - geographically and business-wise.
With the investment, EII will assist MBS in its plans to raise production capacity from 6,000 tonnes per month to 12,000 tonnes per month, and build a structural steel division.
"EII strengthens industries by investing in existing economically beneficial and commercially sound businesses in high-growth industrial and manufacturing sectors. We are focused on enabling the companies we invest in to incorporate international best manufacturing practices, improve corporate governance, provide a solid and flexible capital base and ensure sustainable cash flow. We also facilitate their regional expansion into new markets," said Dr Ahmad Khayyat, Chief Executive Officer, EII.
He added: "EII's association with Mammut leverages on the growth of the construction sector in the region. There is a huge demand for building systems, especially PEBs, which is the core competency of MBS."
MBS, a division of Mammut Group, will continue its present management and administration structure with EII offering advisory support to streamline future growth strategies.
"EII will assist MBS in its regional expansion plans and strengthen its investment options," added Dr Khayyat. "Our association also aims at strengthening MBS' presence in Saudi Arabia, Qatar, Oman, Pakistan and Bangladesh and driving the company into new dynamic markets."
"Our partnership with EII will further strengthen our competitive advantage," said Mr Behzad Daniel Ferdows, President and CEO of Mammut Group. "This association between two leaders will enable us to fuel our expansion plans for the region and leverage on the brand value of EII to enhance our customer interface and expand our value network."
He added: "MBS is the first PEB company in the world to create three-dimensional drawings for all its buildings thus achieving zero per cent detailing errors, which enables the construction of complex structures. We are also the first in the world to launch hi-tech Purlin that allows big bay spacing between frames, and are pioneers in offering total solutions for all clients by designing and executing a PEB and precast building. MBS also enjoys the global-first status for launching a special heat reflective painting for our PEB buildings."
The use of PEBs is regarded as the most versatile and economical way to construct buildings. MBS, established in 1997, provides PEB applications for factories, cold stores, distribution centres, warehouses, workshops, exhibition halls, showrooms, aircraft hangars, worker accommodation, supermarkets and shopping malls.
EII has an extensive portfolio of companies and joint ventures and serves as one of the primary conduits in channeling the region's vast pool of capital liquidity for sustainable industrial growth and development. EII has forged nine partnerships in less than two years, all of which have gained significant growth.
-Ends-
About Emaar Industries & Investments:
Emaar Industries & Investments (EII), a member of Emaar Properties PJSC, is a private joint stock company established in August 2005, to capitalise on the growth prospects of the Middle East and North Africa (MENA) and South Asian manufacturing sector as a strategic investor and partner. EII strengthens industries by investing in existing businesses and establishing joint ventures with leading establishments. Since inception, the company has succeeded in creating an impressive brand that inspires confidence in investors.
EII is dedicated to investing in sustainable companies and projects that are economically beneficial and commercially sound. EII is focused on maximising its subsidiaries' long-term value, exposing them to industrial best practices, improving corporate governance, providing a solid and flexible capital base and ensuring sustainable cash flow.
EII focuses on exploiting the potential of the fastest growing sectors in the region, including building materials, FMCG, healthcare, metals, engineering industries including equipments & machineries, electronics & electrical equipment, and chemicals & petrochemical products. For more details, visit our website: www.eii.ae.
About Mammut Group:
Mammut Group was established to capitalise on the prospects of the regional manufacturing and industrial sectors. It drives its development with a vision of professionalism and excellence. Today, Mammut Group is a leading enterprise in its field with a total turn-over of US$520 million and is the holding company of three main entities.
Mammut Industries, the first entity, was established in 1992 and is the biggest manufacturer of all kinds of trailers and porta cabins in the Middle East with a yearly production capacity of 5,000 trailers of all kinds and 3,000 units of superior porta cabins.
Mammut Building Systems was formed in 1997 and is the leading UAE based pre-engineered steel buildings manufacturer with a production of over 6,000 tons of steel per month as well as production of over 180,000 sqm of polyurethane injected sandwich panels per month.
Mammut Technocrete, established in 2005, is the largest manufacturer of revolutionary pre-cast concrete panels in the world and will have a production capacity of 4 million square meters of panels per year in its final phase. For more details, log on to: www.mammutgroup.com.
For further information, please contact:
Shermin Mheidly
Senior Associate,
Corporate Communications
Emaar Industries & Investments (Pvt) JSC
Direct Tel: (+971 4) 427 4868;
Fax: (+971 4) 427 4891
Email: smheidly@eii.ae
Kamal G. Noun
Marketing and Corporate Communications Director
Mammut Group
Tel: (+971 4) 397 0099;
Fax: (+971 4) 397 0088
Email: kamal@mammut.ae
Kelly Home / Nedal Alasaad
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969;
Fax: (+971 4) 335 6080
Email: k.home@asdaa.com, n.alasaad@asdaa.com
© Press Release 2007
