Anchor Allied plans $7m Sharjah expansion
Anchor Allied to expand Sharjah adhesives factory
Anchor Allied, the largest manufacturer of adhesive tapes and specialty adhesives in the Middle East, and a subsidiary of Masharie, the private equity arm of Dubai Investments PSJC, has announced plans to invest $7million in the expansion of its factory in Sharjah.
The expansion process, split into two phases, is set to be completed in May 2011, and will give the plant additional capacity to produce new products within the specialty aerosols, adhesives and sealants space.
Anchor Allied’s move is in response to greater demand for its products from Central and South Africa, as well as Eastern Europe. The expansion will also result in adding 60 new jobs for factory floor staff.
“Anchor Allied remains focused on consolidating its position as the largest manufacturer of adhesives and sealants in the Middle East. This project expansion, in line with our corporate growth strategy, reaffirms our commitment to increasing our presence across categories that are in high demand,” said Anchor Allied GM Mustafa Kachwala.
“Once the expansion is complete, we will have the capacity to produce over 18 million additional cans of aerosols per year from our Sharjah factory and cater to new markets.”
Anchor Allied has been at the forefront of the industry through introducing innovative products and solutions, which include its range of weather sealants, such as ASMACO 2670, launched in October 2010.