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Dubai Investments unit acquires 51% stake in International Rubber |
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1/10/2007 9:05:30 AM |
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M'Sharie, the private equity arm of Dubai Investments (DI), recently acquired a 51 per cent stake in International Rubber Company (IRC), a leading regional producer of rubber and plastic products.
IRC is a UAE-based company that produces and markets synthetic polymer rubber and plastic products specifically catering to the property development industry.
The company produces high quality weather strip and associated products including structural, container and automotive seals, moulded rubber items, plastic items and PVC water-stops.
As one of the region's leading rubber and plastic companies, IRC has supplied products to many of the UAE's premier property developments, including the Burj Dubai, Jumeirah Beach Resort and Dubai Festival City.
Internationally, IRC has contributed to construction sectors in Singapore, Qatar, England and Saudi Arabia.
"This innovative company represents a valuable investment opportunity as IRC has the capabilities of providing tailored solutions within the construction industry," Abdul Aziz Al Serkal, managing director of M'sharie said in a statement.
"With the full support of M'sharie, IRC is well-positioned to expand our production capacity and product range to serve our customers efficiently and also enter new segments including automotive, engineering and other sectors" said Hashim Al Hashim, Managing Director. |
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