DUBAI, Oct. 8 /Xinhua-PRNewswire/ --
Alghanim Industries, one of the largest, privately-owned companies in the Gulf region, today announced a doubling of their capacity in the mineral wool insulation and pre-engineering steel buildings (PEB) business units. Both businesses are the market leaders in the region. This investment is aimed at meeting future demand in the booming regional construction industry and is part of the unfolding growth plans of the company.
The expansion in insulation materials will be in the GCC, India and Turkey. By the end of 2008, the insulation business unit will have doubled its installed capacity to 230,000 metric tons positioning it amongst the top fifteen global manufacturers. The added capacity is a combination of increases earlier this year in Turkey and upcoming new greenfield plants in the UAE and in Silvassa, in western India. This increase in capacity follows the joint acquisition of IZOCAM, Turkey with Saint Gobain Isover, in 2006. Part of this overall capacity increase will go towards expanding the range of its downstream products.
In addition, Alghanim's Kirby business unit, one of the top five world leaders in steel buildings (PEB), will double its capacity to 400,000 metric tons through its greenfield facilities in the UAE (Ras Al Khaimah) and Vietnam, as well as expansion of existing plants in Hyderabad, southern India and in Uttaranchal, in northern India.
Omar K. Alghanim, CEO of Alghanim Industries, commented, "Alghanim Industries is committed to enhancing value for our customers and further strengthening our market leadership position by continuing to make major strategic investments worldwide. Today's announcement reflects our investment in the Insulation and Kirby business units as a key element of our growth strategy."
About Alghanim Industries:
Alghanim Industries, headquartered in Kuwait, is one of the largest, privately-owned companies in the Gulf region. A multinational company in outlook with operations in 40 countries, Alghanim Industries is a multi-billion dollar conglomerate with more than 30 businesses. It has a nearly 100-year heritage as a successful commercial enterprise in the Gulf region, with a proven track record of reacting to economic and market changes. As a result, this diversified corporation has built a reputation synonymous with market leadership.
For additional information please contact:
Zafar Momin
Executive Vice President
Alghanim Industries
Tel: +965-881111 ext. 3410
Mob: +965-684-2056
Email: zmomin@alghanim.com
