UAE's Mulk Holdings to invest $20m in Serbia
Mulk Holdings is prepared to make significant investments to realise the true potential of Alubond USA
UAE-based business conglomerate, Mulk Holdings, will invest over $20m in the expansion of its facilities in Serbia.
This will give an increased revenue of $70m to Alubond USA worldwide.
As a major step in this direction, Mulk Holdings, recently hosted multiple rounds of presidential discussions with the Serbian premier HE Tomislav Nikolić; and President of the Autonomous Province of Vojvodina, HE Igor Mirovic, and HE Milos Perisic, Serbian ambassador to UAE.
Mulk Holdings plans to set up an ACP production line with A2 fire rating and a fully integrated coil coating line at the Alubond Europe premises, located in Banatski Karlovac. Notably, It will be setting a coil costing line with a production capacity of 12,000 tonnes in addition to the A2 production line.
Shaji Ul Mulk, founder and chairman of Mulk Holdings, said: “We have seen rapidly growing demand for Alubond U.S.A. and its fire rated panels in the European region. At the same time, we wanted to bolster our pioneering fire rated panel technology at a global scale.”
Adnan Ul Mulk, the vice chairman, said: “Alubond USA fire rated panels have been developed, due to the integrated in house knowledge of our R&D teams in plastics, coil coating and extrusion divisions. Alubond USA panels have displayed, what is truly possible as the future of building safety in the Middle East and around the world.”