Dubai -- Intercoil International, a manufacturer of sleep products based in Dubai, is to invest AED 20 million ($5.4 million) in a new manufacturing plant in Ras Al Khaimah.
International industries llc, a sister company of Intercoil International, will set up the 30 000 sq.ft (2800 sq.m) plant, at the Al Ghail Industrial area in RAK, with the first phase of the project being an 800 sq.m polyurethane foam plant.
This slabstock plant, which start running in December 2012, has a fully automated computerised system for long block handling and processing, allowing Intercoil to make all types and grades of polyurethane foam including high resilience and viscoelastic foam.
Intercoil says its aggressive expansion strategy will see it set up manufacturing facilities in India and Egypt within the next five years, and expand its presence in at least two new countries every year.
The group currently operates in eight countries across two continents, and exports to more than 22 countries in the region.