Dubai, UAE -- Emaar Industries & Investments (EII) has bought a majority stake in Mammut Building Systems FZE (MBS). Mammut is one of the UAE's largest manufacturers of pre-engineered steel buildings (PEBs) and polyurethane injected sandwich panels, said a 15 May statement on the deal from EII.
The deal reinforces EII's "ongoing strategy to expand into new growth areas - geographically and business-wise," said the statement. EII, a subsidiary of major UAE property group Emaar Properties PJSC, added that it plans to help MBS double capacity to 12000 tonnes per month, and add a structural steel division.
EII invests in existing "economically beneficial and commercially sound businesses in high-growth industrial and manufacturing sectors," with a focus on enabling the businesses to use "best manufacturing practices, improve corporate governance, provide a solid and flexible capital base and ensure sustainable cash flow, said Dr Ahmad Khayyat, chief executive officer, EII, in the company announcement.
"We also facilitate their regional expansion into new markets," Khayyat added.The Mammut deal will exploit growth of the construction sector in the region, he continued, stressing the huge demand for building systems, especially PEBs - which utilise sandwich panels and are MBS's core skill.
"Our partnership with EII will further strengthen our competitive advantage," said Behzad Daniel Ferdows, president and ceo of Mammut Group, in the EII statement. He pointed out that "MBS is the first PEB company in the world to create three-dimensional drawings for all its buildings." In eliminating detailing errors, this allows complex structures to be built, he added.
MBS, set up in 1997, provides PEB systems for all types of prefabricated buildings: factories, cold stores, distribution centres, warehouses, workshops, exhibition halls, showrooms, aircraft hangars, worker accommodation, supermarkets and shopping malls. "