UAE-based multinational business conglomerate Mulk Holdings International has joined hands with two companies to launch a fresh business venture in the US, said local reports.
The two companies are global investment company Park International Investments and Dubai real-estate group Silver Heights Real Estate for the US market.
The trio will launch Mulk’s Alubond brand of metal composites, interior and exterior design and fit-outs and aluminum coatings in the US, said the reports.
The joint venture is expected to focus on the manufacture and supply of exterior façade materials like Alubond brand of aluminum composite panels or ACPs, glass and aluminum facade elements, solid surfaces, and roofing shingles.
Alubond USA has already secured supply contracts worth over $100 million involving five projects in different parts of the country, said the local reports.
They, however, did not elaborate on the exact projects and their requirements from Alubond USA.
Mulk Holdings Chairman Nawab Shaji Ul Mulk was quoted by the local reports as saying that his firm had “launched a major global expansion drive that will see our company expand into new territories and grow business substantially to meet the growing demand worldwide.”
He said of the new joint venture entity: “Alubond USA is part of this global expansion.”
Park Investments’ John Hwan Park said: “Alubond’s product range is a perfect fit to the US market and we are very excited with this joint venture partnership which will help us to accelerate our projects in the US and beyond.”
His company is currently developing a number of hotels under Wyndham chain. They will reportedly be supported by the Alubond USA.