Mapei forays into ME with $41m production unit at DIP
Dubai, June 2, 2008
Mapei Group, a leader in adhesives, sealants and chemical products for building industry, will set up a Dh150 million ($41 million) production facility at Dubai Investments Park (DIP), the one-of-its-kind mixed-use industrial, business and residential development.
The deal marks the first foray into the Middle East market for Mapei, who will be operating in the UAE through its newly-formed subsidiary company, IBS (Innovative Building Solutions) LLC, said a Mapei official.
A subsidiary of Dubai Investments Company, DIP signed an agreement with Mapei Group in this regard.
'As part of its regional expansion strategy, Mapei will build a state-of–the-art production and storage facility at DIP on a 40,000 sq m plot,' said Luciano Trussardi, general manager of IBS.
The facility will allow Mapei to be closer to the local market and fulfil more effectively its customers’ needs through a wide range of technologically advanced products, with a high-level on-site service provided by a team of dedicated professionals, he said.
“Having established a significant presence in all the major markets of the world, Mapei had been looking for the right moment and opportunity to launch direct operations in the Middle East,” said Luciano Trussardi, general manager of IBS.
“Being the commercial hub of the Arab world, we had already marked Dubai out as our regional entry point, and a close study of potential investment destinations in the city revealed the DIP to offer the most ideal investment climate,” he observed.
“Setting up a base in a strategic location like DIP would allow Mapei to make the most of the myriad opportunities thrown up by this unique market situation. As a company that operates all over the world, we can say with a fair degree of certainty that the business infrastructure facilities at DIP are at a par with the best in the world.” Trussardi added.
“We are delighted that Mapei has chosen to base their operations in DIP,” said Omar Al Mesmar, DIP general manager.
“DIP has emerged as the benchmark for high-standard industrial developments in the region, as evidenced by the host of global and regional industry leaders who have set up operations within the Park, and we are pleased to welcome Mapei to our list of valued clients.”
“As a self-contained business zone, DIP offers tenants unmatched facilities and ancillary services, and we are committed to extending Mapei every support possible as they look to establish a firm foothold in the regional market,” Al Mesmar added.
Founded in 1937 in Milan, Italy, Mapei today has 51 subsidiaries, with 47 plants in 24 countries across five continents. Mapei made $2.6 billion in sales in 2007.
Mapei offers a wide range of specialised, technologically-advanced products designed to meet the requirements of clients in the building industry.
DIP is a self-sustaining city within a city, spread across an area of 32 million square meters consisting of three zones – industrial, commercial, residential and educational.
The numerous projects undertaken at the DIP have been designed to complement each other in a community-themed master plan that provides for all aspects and requirements of a typical flourishing society.-TradeArabia News Service