Depa acquires UAE based marble firm Carrara
Depa Ltd, one of the prominent interiors contractor based in Dubai, has announced to acquire UAE-based stone producer Carrara Mid East Industrial Co in line with its policies to expand its business by tapping new opportunities available in the international market.
The company has already got shareholder's nod in March for listing its shares in UAE dirhams instead of U. S. dollars. Depa expedited its efforts to diversify its business outside Dubai and said that efforts would be done for expanding the business of Carrara in Saudi Arabia, India, Azerbaijan and Nigeria. Carrara General Manager said, "The management team remains committed to all of its existing, and prospective, clients and suppliers."
Carrara, founded in 1977, has three facilities in the UAE and it reported revenue of 150 million dirhams in 2009. Company's landmark project include sail shaped Burj Al Arab hotel located in Dubai.
Hadi El-Solh, Depa's Managing Director of investments added, "This acquisition is another important step in our longstanding vertical integration strategy of acquiring leading suppliers in our core business markets."
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