Mulk Holding's Alubond U.S.A Signs new J.V. In Turkey
11th January 2012Mulk Holdings which announced in December the acquisition of a new facility in Europe has embarked on yet another expansion program in Turkey. In a glittering ceremony held in Burj Al Arab on Jan 11th attended by Who is Who of U.A.E and international Guests, The Signing ceremony between Mulk Holdings chairman Shaji Ul Mulk and Aldom Partners Muzaffer Boynudelik and Erald Pauw at the Al Falak Ballroom of Burj Al Arab was in the presence of Dignitaries like H.E Sheikh Majid Al Nuaimi, H.E Sheikh Khalid Al Hamed, His Excellency. Abdullah Bin Ahmed Al Saleh - Undersecretary Ministry of Foreign Trade in UAE, Dr. Rashid Alleem Director General Sharjah Hamriya Free zone, ports and Customs, H. E M.K. Lokesh Ambassador of India, Mr.Serdar F. Kumbaraci - the Commercial attaché of Consulate General of the Republic of Turkey in Dubai , Col. Hamdan Al Raisi Acting Director General of Dubai Civil Defense and high ranking Government officials and prominent members of VIP Business community from U.A.E, Europe and Turkey.
The Joint Venture agreement with Aldom Group Turkey is for setting up a base to manufacture Alubond u.s.a Fire Rated Building Façade Panels and Aluminum Coil Coatings. Under the terms of this Agreement, Mulk Holdings will own 70% shareholding and Aldom Group 30% . The Factory will be located in Istanbul on the existing facility of Aldom Group and have a production capacity of 3 million m2 . The anticipated total investment will be over 28 Million USD taking Alubond ‘s capacity to over 6 million m2 in Europe with the Serbia Plant.
This facility 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 U.S.A, Europe, U.A.E and India. This new expansion will consolidate Alubond’s global position of leading the Façade Industry and further strengthening The U.A.E – TURKEY Investment and Business relationship.
Chairman Shaji Ul Mulk stated “ 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. Decision to manufacture in Turkey is in line with our market strategy of being inside key metal composite markets".
Erald Pau and Muzzafer Boynudelik Managing Partners added “ Aldom have a history of being the largest Aluminium composite Panel Distributors in Turkey . We were Distributors for many years for Japanese brand Alpolic. We switched over to Alubond u.s.a brand mainly due to the superior quality and the largest product range of having A1, A2, B1 and B Fire Rated composite Panels plus their aggressive pricing policy. We are delighted that our relationship as a Distributor is now changing into partnership .Alubond has been present in the Turkish market for the last 7 years and we have no doubt that within two years we will have a major share of Turkish Market"
The new capacity of another 3 million m2 takes Alubond Global Capacity to 18 million M2 making it by far The Largest Composite Panel Brand in The World!
Mulk Holdings Invest 20 Million USD in Europe
5th January 2012Mulk Holdings The Diversified Multi National Group has acquired a large 10 Acre Asset in Serbia and announced an investment of 20 million USD toward the establishment of a new production facility in Europe. This strategic move is in line with the company’s continued expansion program of establishing manufacturing plants close to demand markets.The Facility Situated in the Nemanjina Street, Banatski Karlovac, Serbia, 60km from Belgrade (capital of Serbia) will have a state-of-the art production facility with a 3,000 square meters office and showroom space and 10,000 square meters of production Area which will be build in several phases. The facility will be equipped with a fully automated three coat coating line and a High Speed Double Extruder Composite Panel production Line. The New Factory will have a capacity of 3 million m2 of Fire rated Metal Composite Panels and 10,000 tons of Color coated coils.
New Alubond and Coil Coating Production Facility Established
Mr. Shaji Ul Mulk, Chairman of Mulk Holdings International said: “Our Investment in Europe started last year with the establishment of Alubond Europe in Pancevo, Serbia in a leased facility. We made this investment in Europe during acute Global Recession and surprised many by this aggressive move. I am lucky to have able leaders like Sanja Uzelac and Violeta Svilokos who have shown exemplary commitment and drive to make Alubond Europe a success story. We are now encouraged to invest further by acquiring this new asset and increasing our capabilities in Europe.
Our new Expansion will create employment opportunities and further investment to assist the government in its aims to promote international investment and improve the economic standards of the local Municipality. We would like to thank the Municipality of Alibunar (Banatski Karlovac), Serbia for their assistance and giving us this opportunity to grow our business in Europe. We look forward to a successful relationship in the years to come".
Sanja Uzelac - Director European Operations commented “Our Product range of Fire Rated Metal Composites and Coil Coatings are getting increasingly popular in Europe due to our ability to provide the highest quality product with the ALUBOND U.S.A brand label of being The World’s Largest Composite Panel and competively priced. We thank Our Parent Company Mulk Holdings for their unflinching support and their confidence in us for this new expansion. This investment is also extremely important for growth and improvement of Serbian economy.
Violeta Svilokos- Sales Manager Europe added “. Our Facility based in Serbia gives us many strategic Sales and Marketing advantages as Serbia has Free Trade Agreements with European Union, Turkey, Russia and many others nearby markets giving us competitive edge in these key markets. We have a great team here and very excited to be moving into our own facility.