UAE-based Mulk Holdings, a diversified multi-national group has acquired a 10-acre asset in Serbia and announced an investment of $20 million toward the establishment of a new production facility in Europe.

This strategic move is in line with the company’s continued expansion programme of establishing manufacturing plants close to demand markets, a statement said.

The facility situated in Banatski Karlovac, Serbia, 60km from Belgrade, will have a state-of-the art production facility with a 3,000 sq m office and showroom space and 10,000 sq m of production area which will be build in several phases.

The facility will be equipped with a fully automated three coat coating line and a high speed double extruder composite panel production line. The new factory will have a capacity of 3 million sq m of fire rated metal composite panels and 10,000 tons of colour coated coils.

“Our investment in Europe started last year with the establishment of Alubond Europe in Pancevo, Serbia in a leased facility,” said Shaji Ul Mulk, chairman of Mulk Holdings International.

“We made this investment in Europe during acute Global Recession and surprised many by this aggressive move. I am lucky to have able leaders like Sanja Uzelac and Violeta Svilokos who have shown exemplary commitment and drive to make Alubond Europe a success story.  We are now encouraged to invest further by acquiring this new asset and increasing our capabilities in Europe.”

“Our new Expansion will create employment opportunities and further investment to assist the government in its aims to promote international investment and improve the economic standards of the local Municipality. We would like to thank the Municipality of Alibunar (Banatski Karlovac), Serbia for their assistance and giving us this opportunity to grow our business in Europe. We look forward to a successful relationship in the years to come,” he added.

Sanja Uzelac, director European Operations, said: “Our Product range of fire rated metal composites and coil coatings are getting increasingly popular in Europe due to our ability to provide the highest quality product with the Alubond USA brand label of being the world’s largest composite panel and competitively priced.”

Violeta Svilokos, sales manager, Europe added: “Our facility based in Serbia gives us many strategic Sales and Marketing advantages as Serbia has Free Trade Agreements with European Union, Turkey, Russia and many others nearby markets giving us competitive edge in these key markets. We have a great team here and very excited to be moving into our own facility.” – TradeArabia News Service