Mulk Holdings enters Indian market

Dubai: Mulk Holdings, a Dubai-based company, Thursday said it had signed a new joint venture with Dacs Electrosystems Pvt Ltd to manufacture Alubond USA brand of aluminium composite panels in India. A memorandum of understanding was signed between Mulk Holdings Chairman Shaji Ul Mulk and Dacs Chairman Ravi Lad. Alubond India will have the rights to manufacture and distribute the Alubond range of products in nine countries across Asia and Australasia with the capacity to produce two million square metres of aluminium panels. Mulk Holdings, a major supplier of aluminium panels, has supplied products to a number of high-profile projects including the Burj Dubai, the world's tallest building. Dacs Electro Systems is an award-winning sister concern of Kamala Group who have a strong presence in the India construction industry. The expansion comes on the heels of European growth following the start of the three-million square metre capacity Alubond Europe Production facility in Serbia last month. With UAE and US facilities being upgraded to an increased level of seven million square metres, the total Alubond production capacity worldwide will now be 14,000,000 square metres. The anticipated turnover for the Alubond range of products worldwide will be over Dh1 billion with products distributed in more than 94 countries.