Mulk Holding and Aldom Group Sign Deal for Turkey facility

january 23 2012

UAE-based Mulk Holdings and Turkey’s Aldom Group have signed a joint venture agreement for establishing a manufacturing facility for the former’s core product in Turkey. The plant will be one of the largest overseas manufacturing bases of Mulk Holdings. Alubond u.s.a is the core product of Mulk Holdings and has achieved the world’s largest composite panel brand status with existing bases in the US, Europe, the UAE and India. The factory will be located in Istanbul at the existing facility of the Aldom Group and will have a production capacity of three million sqm. The anticipated total investment will be over $28 million taking Alubond’s capacity to over six million sqm in Europe with the Serbia Plant.

“We are extremely delighted at this joint venture agreement and establishing a partnership with Aldom group who brings us strategic advantage in their local market knowledge and expertise,” Chairman Shaji Ul Mulk said at the signing ceremony in Dubai.

The joint venture agreement is for manufacturing Alubond u.s.a fire rated building facade panels and aluminium coil coatings. Mulk Holdings will own 70 per cent shareholding and Aldom Group will have the remaining 30 per cent. “The decision to manufacture in Turkey is in line with our market strategy of being inside key metal composite markets,” Ul Mulk added.

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