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Roots Steel acquires 2 Sharjah factories

Dubai, March 20, 2011

Jeddah-headquartered Roots Steel Group has announced the acquisition of Ginco Steel and Polyco, both wholly owned subsidiaries of Bank of Sharjah since 2000.

Roots Steel Group, established in 2008, is an ISO 9001:2008 certified organization that has grown significantly since the founding of its first plant in Syria in 2009.

“Roots Steel Group aims to be the leading global player in metal building systems and structural steel industries in the region,” said Mahmoud Mustapha, managing director of the group.

Ginco Steel, established in 1975, has an ISO 9001:2008 certified by SGS Switzerland in 2003. Its core activities include design, production, sales and erection of steel structures for high-end oil and gas, infrastructure, industrial, commercial and other projects.

Polyco Ltd Co, established in 1982 and also similarly certified by SGS Switzerland in 2004, operates mainly in design, production, sales and erection of conveying systems for the mining, industrial and food industries. Polyco also manufactures and supplies various types of oil field cabins.

Among the latest expansion initiatives of Roots Steel Group is the establishment of a new plant in Egypt, which will be inaugurated by May. Another new plant facility in Bahra near Jeddah is expected to be operational by mid-2012.

The group is targeting a combined production capacity of 300,000MT per year from all its plants, covering the Middle East, Africa and Asia, Mustapha said.-TradeArabia News Service




Tags: Saudi Arabia | Bank of Sharjah | industry | Roots Steel Group | Ginco | Polyco |

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