Emirates Extrusion Factory acquires Aluminium Factory in Dubai
WAM Dubai, May 23rd, 2012 (WAM) -- Emirates Extrusion Factory (EEF), a subsidiary of Masharie, the private equity arm of Dubai Investments (DI), today announced the acquisition of a state-of-the-art production facility for aluminium extruded profiles from AKFA Aluminium and Plastic FZE, to increase its operational efficiency and meet rising demand.
The contract was signed by Khalfan Al Suwaidi, Managing Director, Emirates Extrusion Factory, Ajman, and officials of AKFA Aluminium and Plastic FZE.
As part of the deal, EEF acquires a 10,000 sq. meter factory on leased-land of 35,000 sq. meter at Techno Park, a special free zone under the Jebel Ali Free Zone Authority. The transaction includes the procurement of machinery such as extrusion press in addition to automatic and manual powder coating lines. A large plot of land with scope for adding another two presses, anodizing line, wood finish line and a thermal break line has also been acquired as part of the buyout.
Khalfan Al Suwaidi said: "At Emirates Extrusion, we constantly invest in the latest technology in order to upgrade our business efficiency. The new factory will streamline our operational processes and dramatically reduce cost and improve time efficiency to help us escalate overall output.
"Located strategically near the Jebel Ali port, the plant will help us serve the entire UAE market. Its close proximity to Dubai Aluminum and Emirates Aluminum will reduce the transportation cost of billets and scraps and improve our overall business readiness. We will commence operations from the new plant immediately." The new acquisition will help EEF offer the most reliable aluminium profiles with a guarantee of durability and considerable service life. The vast selection of products can be used for facade glazing, furniture, showcase units and interior decoration.