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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. Following this acquisition, it has embarked on yet another expansion program in Turkey with sign a joint venture agreement with Aldom Group Turkey.
Acquisition of 10 Acre Asset in Serbia and investment of 20 million USD to establish a new production 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 joint venture with Aldom Group 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!
More information:www.mulkholdings.com - www.alubond.com