UK Materials Engineering Company Sets Up AED 50m FacilitySource: www.export-egypt.com 3/25/2014, Location: Middle East |
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Officials from Khalifa Industrial Zone Abu Dhabi (Kizad) and Morgan Advanced Materials, a UK provider of high specification engineered products, have signed today a 30-year Musataha agreement with an initial investment in their facility of AED 50 million.
By signing the agreement, Morgan Advanced Materials has been allocated a 426,812 square ft plot of land in the industrial zone’s base metals cluster where they will set up their high tech manufacturing facility. The facility, which is expected to commence operations in 2015, will be focusing on the production of products to be used in various market sectors, such as aluminium, electronics, energy, transportation, petrochemicals, healthcare, and fire protection. Commenting on the signing of the Musataha agreement, Engineer Khaled Salmeen, CEO, Kizad, said: “We are delighted to welcome a further high profile international investor to our industrial zone. With their extensive product range that will cater to a vast number of industries in Kizad and the wider GCC region, Morgan Advanced Materials will benefit from our integrated vertical clustering, economies of proximity, and unparalleled market access through our flagship deepwater Khalifa Port.” Ian Robb, Regional President for Morgan Advanced Materials, commenting on the signing, stated that: “The Middle East is a very attractive market place for us. Growth in the economy is driving demand from industries, such as aluminium, petrochemicals and energy, where our products and services provide differentiated solutions. With a pro-business environment, low utility costs, and excellent multimodal transportation network, Kizad offers the perfect framework to further develop and grow our business. ” Based in Windsor, England, and founded in 1856, Morgan Advanced Materials is listed on the London Stock Exchange in the engineering sector. The company has a global presence of over 9,000 employees, manufacturing in more than 30 countries, and serves customers in more than 100. The company established a sales office in the UAE in 2001 to service customers in the Middle East and North Africa region, especially in the areas of thermal insulation, energy saving, acoustic barriers and fire protection. Most of the company’s products are produced to very high tolerances, and many of them are designed for use in extreme environments. |
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