(MENAFN Press) : Nukote Coating Systems International,
a leading global provider of high technology coating solutions for liquid
distribution, storage and anti-corrosion systems, and Building Technology
Trading & Contracting Company (BLDGTEC), a leading Saudi contractor,
today announced the initiation of work on a state-of-the-art polymer blending
facility to be located in Dammam, the Kingdom of Saudi Arabia. With an initial
investment of AED37 million (US$10 million), the facility will produce some
90,000 tons per annum at full capacity.
|
|
"Nukote's high tech, high
capacity facilities have delivered the highest quality specialized coating
products to the oil and gas industry for many years in the Middle East,"
said Abdulah Al-Shamrani, president, BLDGTEC. "Our partnership with
Nukote is aimed at providing industrial organizations, be they into oil
and gas, construction or infrastructure development, with readily available,
high grade coating solutions at lower prices."
|
|
The new factory will initially
produce for consumption in Saudi Arabia as well as some of the GCC (Gulf
Cooperation Council) countries, and at full capacity could cover many of
Nukote's Middle East clients and affiliates. It will also include research
and development, sales and technical support personnel. The facility will
produce, Polyureas, Polyurethanes (aromatic, aliphatic and polyaspartic
aliphatic), ceramic metal polymers and primers and will cover an area of
7,000 square meters. At full capacity, the facility would generate AED2.2
billion (US$600 million) per year.
|
|
"We expect to turn over around
AED184 million (US$50 million) during our first year of operation and will
employ up to 35 Saudi nationals to operate the facility," said Michael
Osborne, Nukote's president and CEO. "We are fully committed to increasing
our local distribution and application capabilities by fully supporting
the efforts of our regional distributors and applicators who are enjoying
great success throughout the region."
|
|
Nukote distributes their products
through a global alliance of regional distributors. GCC distributors of
Nukote products include Ahmed Mansoor Al A'Ali Co. in Bahrain, Al Bader
Group in Kuwait, Hitech Products in Qatar, Khimji Permoglaze in Oman and
ADMI in Abu Dhabi. Fosroc Global Holdings is the Master Distributor for
Nukote with Al Gurg Fosroc representing Nukote in the GCC, Fosam Company
Limited in the Kingdom of Saudi Arabia and Fosroc Global Trading in other
Middle East regions.
|
|
| Nukote products are applied through
a network of qualified application firms, which are trained and certified
by Nukote. Nukote additionally offers insurance backed warranties to end-users
that include the application work providing assurance to its clients that
the products specified and applied will perform as required. Local companies
presently certified and applying Nukote products in the region include;
Horizon Coating Products (UAE), Dicotech (UAE/QATAR), Fameco (UAE), Al Ansari
(Oman), Hitech Products (Qatar), AMA (Bahrain), Al Bader Group (Kuwait),
Fosam (KSA), BTT (KSA) among others. |
|
"We are also finalizing some
strategic affiliations with firms in the GCC related to both commercial
and manufacturing entities, the details of these new alliances will be release
once they are consummated," Osborne concluded.
|
|
The announcement comes on the heels
of a similar deal between Ahmed Mansoor Al A'Ali Co. (AMA), one of Bahrain's
largest contracting companies and Nukote to provide an AED5.5 million (US$1.5
million) 'supply and apply' advanced pipe coating facility in Bahrain.
|
|
| Nukote is a privately held corporation with
an annual turnover in 2005 of US$65 million. The company develops and manufactures
advanced polymer coating, liner and membrane systems utilized in petrochemical,
industrial, infrastructure, manufacturing and civil construction markets,
distributing them through a network of affiliated distribution and application
firms globally. Nukote maintains their international headquarters in Jebel
Ali Free Zone, Dubai. |
|