Members of the business communities of UAE and Turkey signed a joint venture agreement for Aldom Group Turkey to set up a base to manufacture Alubond Fire Rated Building Façade Panels and Aluminum Coil Coatings.
Mulk Holdings will own a 70% shareholding and Aldom the remaining 30%.
It will set up a $28M base in Aldom’s factory in Istanbul, Turkey and have a production capacity of 3Mm2. It will be Alubond’s largest overseas manufacturing base and boosts its capacity to more than 6Mm2 in Europe.
Alubond is Mulk Holdings’ core product and has achieved The World’s Largest Composite Panel brand status with existing bases in USA, Europe, UAE and India.
Mulk Holdings is based in the UAE and is a multinational conglomerate with business interests in three sectors - Construction Materials, Renewable Energy and Health Care.