Mulk holding’s alubond signs new J.V in turkey
Mulk 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 !